By Michael Susin

Heineken NV said Wednesday that it will stop the production, advertising and sale of the Heineken brand in Russia as a response to the escalation of the war in Ukraine.

The world's second-largest brewer said it will shut down its Russian business and won't take any profit from operations in the country.

The Dutch brewer--which also owns the Sol, Birra Moretti and Tiger beer brands--previously said it will stop all new investments and exports to Russia.

Shares at 1346 GMT were up 4.4 pence, or 5.6%, at 83.7 pence.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

March 09, 2022 09:09 ET (14:09 GMT)

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