Myanmar Economic Holdings to sell Mandalay Brewery to Kirin
Myanmar Economic Holdings to sell Mandalay Brewery to Kirin
The Myanmar-military linked Myanmar Economic Holdings Limited and Japan’s Kirin Holdings Company Limited (Kirin) have entered into an agreement in respect to the sale and purchase of Myanmar’s oldest brewery the ‘Mandalay Brewery of Myanmar’. Kirin is expected to establish a local subsidiary to acquire and run the brewery. The Myanmar Investment Commission has yet to approve the proposed takeover and details of the transaction are yet to be made public. Pursuant to the purchase agreement, Kirin, which acquired local market leader Myanmar Brewery Limited in 2015, will control 90% of beer production in Myanmar. Tokyo-listed Kirin is competing against international competitors including Heineken and Carlsberg who have also established operations in Myanmar. Myanmar is one of the few growing beer markets globally. Read more…