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. Last Updated: 07/27/2016

Heineken Sells Its Kvas Brand

Heineken, the world’s third-largest brewer, agreed to sell its Stepan Timofeyevich brand of kvas in Russia to domestic producer Deka, the Russian company said Monday.

Stepan Timofeyevich has about 8.4 percent of the domestic market for the fermented drink, Deka said, without giving details of the transaction.

(Bloomberg)