Kirin to sell entire stake in military-linked beer venture in Myanmar

Economy

Kirin Holdings Co. said Thursday it has agreed to a buy out of its entire stake in a junta-linked joint venture in Myanmar, paving the way for the Japanese beverage maker to exit the Southeast Asian country's beer market. Under the agreement, Kirin plans to sell its share of Myanmar Brewery Ltd. for around 22.4 billion yen ($164 million) as soon as possible, though the timing of the transaction has not been decided. The beer venture, owned 51 percent by Kirin and 49 percent by Myanma Economic Holdings Public Co., is the leading brewery in the nation where the democratically-elected government ...

Kyodo News

Kyodo News