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Most foreign companies that sold their Russian businesses have put an option in the contract allowing them to buy it back in say 5 years for a fixed sum. So to
by borissk 3y ago
Most foreign companies that sold their Russian businesses have put an option in the contract allowing them to buy it back in say 5 years for a fixed sum.
So to a degree a temporary transfer of ownership, rather than real sale.
- TillE 3y agoFive years is an extremely optimistic timeline for EU-Russia relations returning to anything close to normal.
- borissk 3y agoSelling beer in Russia is not sanctioned by EU. The reason most companies are leaving is the public outcry - if the war continues for 6+ years that may cool down.
- oneshtein 3y agoRussia started war with Ukraine in 2014.
- FirmwareBurner 3y agoYes, and the sanctions put by the cowardly west only applied to companies operating in occupied Crimea. So then Russians businesses had spin-off subsidiaries operating in Crimea under different names so the holding companies wouldn't fall under western sanctions, making the sanctions basically worthless and just a smokescreen to continue doing business as usual with Russia.
- sushibowl 3y agoAccording to Dutch news there is no such option for this deal, this is a permanent transfer (source in Dutch: https://nos.nl/l/2487917 https://nos.nl/l/2487917 Heineken's Russian division was difficult and never very profitable, so they are likely glad to be rid of it. Even if they have to write off a 300 million euro loss on it.
- extraduder_ire 3y agoI hope they cordon off that one euro, so it doesn't make its way into their books as real revenue. The showman in me wants a physical euro put in a safe, or display case somewhere in case a similar deal goes the other way in future.
- JumpCrisscross 3y ago> put an option in the contract allowing them to buy it back in say 5 years for a fixed sum A contract struck under Russian law and subject to Russian courts.