LONDON (Reuters) – Russian authorities have rejected a deal between Anheuser-Busch InBev and Anadolu Efes that would see the world’s largest beer maker sell its stake in the Russian joint venture to the Turkish brewer, the companies said on Thursday.

AB InBev, the world’s largest brewer by volume, announced in April 2022 that it would sell its stake in the company to Anadolu Efes as part of its exit from Russia following Russia’s invasion of Ukraine, but the deal required regulatory approvals.

AB InBev and Anadolu Efes said in separate statements on Thursday that those permits had not been granted. The Turkish brewer added that it had received the decision on Wednesday and would provide updates in due course.

“Anadolu Efes and AB InBev are reviewing the decision,” AB InBev said in a statement. “The business in Russia will continue to operate under the direction of Anadolu Efes management.”

With this news, AB InBev becomes the latest company in a series of cases in which authorities have thwarted its efforts to exit the Russian market.

The Russian subsidiary of rival brewery Carlsberg was seized after the company announced it would sell it to an unnamed buyer in 2023. CEO Jacob Aarup-Andersen then said the brewery’s business had been “stolen.”

The announcement by AB InBev and Anadolu Efes followed a report in a Russian newspaper earlier this week which, citing sources, said the deal had been rejected.

(Reporting by Emma Rumney in London and Canan Sevgili in Gdansk; Editing by Jason Neely and David Evans)