BRUSSELS (Reuters) – Anheuser-Busch InBev stated on Friday it might promote its stake in Russian joint-venture AB InBev Efes which is able to end in a $1.1 billion impairment cost in its first quarter outcomes.

The announcement by the world’s largest brewer, primarily based in Belgium, comes after comparable strikes from its rivals Carlsberg (OTC:) and Heineken (OTC:).

In March, AB InBev suspended gross sales of its Budweiser model in Russia and had forfeited monetary profit from its Russian JV, following the lead of different main brewers in response to Russia’s invasion of Ukraine, which Moscow dubs a “particular operation”.

“AB InBev as we speak introduced that it’s going to promote its non-controlling curiosity within the AB InBev Efes three way partnership and is in lively discussions with its accomplice, Turkish brewer Anadolu Efes, to amass this curiosity,” AB InBev stated in a press release.

AB InBev has a 24% stake in Anadolu Efes, a part of its 2016 buy of its subsequent largest rival SABMiller (LON:). They shaped the AB InBev Efes three way partnership in 2018, combining their respective Russian and Ukrainian companies.

The three way partnership has 11 breweries in Russia, using 3,500 folks and three in Ukraine, using 1,800. Carlsberg is the main Western participant in Russia, adopted by AB InBev.

The Danish brewer stated on Thursday its resolution to promote its enterprise in Russia would end in a writedown of about $1.39 billion.

Dutch rival Heineken has stated its Russia exit would quantity to associated fees of about 400 million euros ($434 million).

AB InBev additionally stated it had launched Chernigivske, Ukraine’s hottest beer model, to many nations, together with Britain, Germany, Belgium, France and the Netherlands.

“All income from the sale of Chernigivske will go to assist humanitarian reduction efforts and AB InBev is guaranteeing at the very least 5 million {dollars} of assist from this humanitarian initiative,” it stated.

($1 = 0.9224 euros)