Carlsberg and Heineken to exit Russia

Denmark-based brewer Carlsberg A/S and Dutch brewer Heineken N.V. will exit Russia, joining other companies who quit the country following its invasion of Ukraine, CNBC reported. Carlsberg, which holds a 27% share of the market through its ownership of Baltika Breweries LLC, will see a substantial non-cash impairment charge, while Heineken expects to book charges of €400 million ($438 million) as it plans to transfer its business to a new owner.