Kirin Holdings to buy F&N’s stake in Myanmar Brewery

Japan’s Kirin Holdings is set to buy Fraser and Neave’s (F&N) 55 percent stake in Myanmar’s biggest brewer, Myanmar Brewery Ltd, for $560 million, Reuters reported on 19 August, quoting a source familiar with the deal.

An announcement on the deal could come as early as Wednesday, said the source, who declined to be identified due to the sensitivity of the matter.

Earlier this month, Singapore’s F&N agreed to sell its 55 percent stake in Myanmar Brewery to government-backed Myanmar Economic Holdings Ltd (MEHL) for $560 million, bringing an end to a lengthy dispute. The source said Kirin was coming in as MEHL’s nominee and is looking to buy the stake at the agreed price of $560 million.

Kirin declined to comment and F&N had no immediate comment. Myanmar Brewery and MEHL could not be immediately reached for comment.

Source: MIZZIMA

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