Japan’s Kirin offloads Myanmar beer business over coup

TOKYO, June 30 — Japanese drinks giant Kirin said Thursday it has agreed to a buyout of its shares in a Myanmar joint venture with a junta-linked conglomerate, completing its exit from the market over the 2021 coup.

Kirin said Thursday that a share buyback agreement worth about 22.4 billion yen had been reached to transfer its 51 per cent stake back into the subsidiary, ending the joint venture. But Kirin had been under pressure even before the coup over its ties to the military, and launched an investigation after rights groups called for transparency into whether money from its joint venture had funded rights abuses.

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Japan's Kirin offloads Myanmar beer business over coupTOKYO (AFP): Japanese drinks giant Kirin said Thursday (June 30) it has agreed to a buyout of its shares in a Myanmar joint venture with a junta-linked conglomerate, completing its exit from the market over the 2021 coup.
Source: staronline - 🏆 4. / 75 Read more »

Japan's Kirin offloads Myanmar beer business over coupTOKYO (AFP): Japanese drinks giant Kirin said Thursday (June 30) it has agreed to a buyout of its shares in a Myanmar joint venture with a junta-linked conglomerate, completing its exit from the market over the 2021 coup.
Source: staronline - 🏆 4. / 75 Read more »