By Michael Susin

Heineken NV said Monday that it will leave Russia, as its business is no longer viable and sustainable following the outbreak of war in Ukraine.

The world's second-largest brewer said it will transfer its business to a new owner, without disclosing further details. Operations will continue during the transition period, it said.

The company previously said it has stopped new investments and exports to Russia, and won't take any profit from operations in the country.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

March 28, 2022 03:35 ET (07:35 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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