Japan’s Kirin offloads Myanmar beer business over coup

  • 📰 malaymail
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

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...

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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 »