Putin Hands Local Company Control of AB InBev’s Russian Unit (3)

Russian President Vladimir Putin has given a local company control of Anheuser-Busch InBev’s joint venture, upending the brewer’s plans to exit the country via a deal with a Turkish partner.

All the shares of AB InBev Efes Russia, a tie-up between the Belgian brewer and Anadolu Efes of Turkey, are now under the temporary control of the Vmeste group of companies, a presidential decree published Monday said, without giving any details on Vmeste.

In October, Anadolu Efes and AB InBev agreedto swap stakes in their businesses in Russia and Ukraine. Under the deal, the Turkish brewer would become ...