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Turns Out the Russians Didn't Buy Pabst After All

The company is still owned by an American citizen.

Justin Sullivan/Getty Images

Patriots rejoice: It looks like Russia's largest brewer and beer distributor didn't buy Pabst Brewing after all. In September it was reported that Oasis had paid as much as $700 million for Pabst, the company that makes the hipster beer of choice Pabst Blue Ribbon. According to the New York Times, the news upset a few people, who were angry that a company with deep ties to Russia was buying an American brand.

While Oasis did not buy Pabst, its then chairman Eugene Kashper — an American citizen born in Russia — bought the company, with a private equity firm, "independently of his role" at the Russian beer distributor. He was working with Oasis at the same time to figure out a distribution deal so that Oasis could introduce Pabst to the Russian and Eastern European markets, which is what caused the confusion. That distribution deal disintegrated, however, due to the ongoing political tensions between the two countries. So rest easy hipsters, PBR is still owned by an American.

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