Japan’s Kirin gives up stake in Myanmar Brewery

Published June 30, 2022 12:18 AM

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Japanese beverage giant Kirin Holdings plans to transfer its stake in Myanmar Brewery to the joint venture in a share buyback transaction That will leave its partner Myanma Economic Holdings Plc. in 100% control of the company. 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. The exact value of the deal is subject to change and it requires approval by the Myanmar government.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

News Channel 3 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.