Tag Archives: oceania

Heineken sells Russian business for $1.70

Heineken has announced its departure from Russia following the sale of its business in the country for a symbolic €1 ($1.70).

The Dutch beer maker said in a statement on Friday that it had received the necessary approvals to sell its operations to Arnest Group, a Russian manufacturer, completing a withdrawal process it initiated in March 2022.

Heineken CEO Dolf van den Brink said that "recent developments demonstrate the significant challenges faced by large manufacturing companies in exiting Russia".

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"While it took much longer than we had hoped, this transaction secures the livelihoods of our employees and allows us to exit the country in a responsible manner," he added.

The brewer expects to incur a total loss of €300 million ($506 million) from the deal.

When Moscow launched its full-scale invasion of Ukraine in February 2022, a slew of multinational companies left Russia, or announced plans to do so.

But over the past 18 months, the Kremlin has made it increasingly difficult for Western firms to sell their Russian assets.

It now also obliges them to pay a hefty fee to the Russian government on such sales.

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In March, Heineken said it had decided to "do everything possible" to avoid its Russian business being nationalised, while leaving the country "as quickly as possible".

"First, we don't think the Russian state or the people closest to it would have the best interests of our people at heart. Second, we were uncomfortable that the Russian state should benefit from forced appropriation of major business assets," it said in a statement.

Arnest Group, which manufactures cosmetics, household goods, and metal packaging for consumer goods, has provided all 1,800 of Heineken's employees in Russia with employment guarantees for the next three years as part of the deal.

All VIP lounge signs to be removed within days in NSW

NSW pubs and clubs have less than one week left to remove all external gambling-related signage to reduce harm and tackle money laundering.

The signage, including digital video displays and terms like VIP lounge and players' room, must be taken down by September 1 as part of the NSW government's gambling reforms.

Liquor and Gaming NSW (LGNSW) will begin conducting checks in September and from December there will be "no exceptions", with members of the public encouraged to report venues in breach of the regulations.

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Signage such as this 'VIP lounge' on Oxford street, Darlinghurst, will have to be removed within three months under the new legislation.

Gaming Minister David Harris said it was the next step in the government's commitment to reform in the industry.

"Pubs and clubs have one week until this ban will take place and we will begin enforcement from day one," Harris said.

"Let me be clear, if you have gambling-related external signage after September 1 and cannot demonstrate that reasonable steps have been taken to remove it, you will be fined.

"I'm also calling on the community to help us enforce this ban.

"If you see a sign which may breach the guidelines after September 1, please report to Liquor and Gaming NSW who will investigate further."

Teenager dies after ute crash on the Gold Coast

A teenage boy has died after a ute crashed into a parked truck on the Gold Coast.

A Nissan Navara was travelling along Gooding Drive in Merrimac about 2.10am when it hit an unoccupied truck.

The 17-year-old passenger from Tallai died at the scene, while the driver, also 17, survived.

READ MORE: Two children die in car crash in Sydney's south

A teenage boy has died and another has survived after a ute crashed into a parked truck in Gold Coast.A teenage boy has died and another has survived after a ute crashed into a parked truck in Gold Coast.

"The driver of the Nissan, a 17-year-old Eagleby boy, was taken to the Gold Coast University Hospital, however is not believed to have sustained serious injuries," Queensland Police said in a statement.

Police are calling on witnesses or anyone with dashcam to come forward.

Investigations are ongoing.