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In an attempt to strengthen their position in a declining market, Anheuser-Busch InBev and Turkish brewer Anadolu Efes have agreed to merge their operations in Russia and Ukraine.
In spite of Russia being home to the biggest drinkers of alcohol, beer sales have declined since 2008 when the government, bent on slowing a crisis of problem drinking, began strategically raising taxes and limiting sales.
Responding to this pronounced beer decline AB InBev, the world’s largest brewer and home to brands like Budweiser as well as a growing roster of “once craft” properties, announced the non-binding deal with the Turkish major today.
AB InBev currently owns 24 percent of Efes, Turkey’s biggest brewer, which they inherited in last year’s merger with SABMiller.
The 50-50 merger which will reportedly result in a new company called AB InBev-Efes is expected to close in 2018.
And as usual financial terms weren’t disclosed.
