BRUSSELS, Aug 25 Reuters Dutch brewer Heineken said on Friday it had completed its exit from Russia by selling its operations there to Russia39;s Arnest Group for a symbolic one euro.

The world39;s secondlargest brewer said the deal had received all the required approvals and was likely to leave it with exceptional losses of 300 million euros 324.8 million.

Heineken announced its intention to exit Russia in March 2022, after Russia39;s invasion of Ukraine, acknowledging that the process had taken longer than expected.

Recent developments demonstrate the significant challenges faced by large manufacturing companies in exiting Russia, Chief Executive Dolf van den Brink said in a statement.

Many multinational companies flocked to leave Russia after the West imposed unprecedented sanctions on Moscow, but the Kremlin has retaliated by seizing some assets.

Some foreign companies trying to exit Russia are facing a big jump in costs as Moscow is demanding bigger discounts on the price tags of assets they want to sell, three people with knowledge of the matter said.

Russian President Vladimir Putin signed a decree in July to take control of French yoghurt maker Danone39;s Russian subsidiary along with beer company Carlsberg39;s stake in a local brewer.

AnheuserBusch InBev has also said it plans to exit its joint venture in Russia with Turkey39;s Efes.

Asked if the experiences of Danone and Carlsberg had increased the urgency for Heineken to do a deal, van den Brink told…