Japan’s Kirin to sell Myanmar Brewery to sanctioned partner

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Japanese beverage giant Kirin Holdings will sell its stake in Myanmar Brewery to its joint venture partner Myanma Economic Holdings Plc. Kirin said the share buyback agreement took into account its employees and other stakeholders and would be the fastest way to exit the venture. MEHL faces sanctions by the U.S. and other Western governments. Kirin announced shortly after the military takeover in Myanmar in February 2021 that it intended to pull out of the brewery venture. No dollar amount was given in Kirin’s statement Thursday, and the deal requires approval by the Myanmar government.