RUSSIA: Heineken takes first steps into Russian market
The Dutch brewing giant Heineken, has taken its first steps into the Russian market by agreeing to acquire Russian brewery Bravo International for as much as US$400m. The final sale price is conditional on Bravo meeting volume and price targets in the next 12 months. The company said the acquisition is a first step "towards achieving a broad market position in Russia." Heineken has had export operations in Russia since the early 1980s.
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