MOSCOW (Reuters) - Heineken (HEIO.AS), the world’s third-largest brewer, said on Monday it had put its mothballed production site in Kaliningrad, a Russian exclave on the Baltic Sea, up for sale.
The Dutch company halted production at the Kaliningrad plant in January, citing a steady decline in Russia’s beer market due to the tightening of the regulation and recession.
“We have a sober estimate of the economic situation in the country as a whole and in the region in particular,” the company said in a statement announcing the sale.
Heineken said it planned to raise at least 250 million roubles ($4.3 million) from the sale and invest the proceeds in other projects.
($1 = 57.9234 roubles)
Reporting by Maria Kiselyova; Editing by Dmitry Solovyov