Japan & Myanmar: Kirin objects to Myanmar partner’s plan to liquidate brewery joint venture
Japanese drinks company Kirin Holdings said on November 24 it objected to a plan by its partner in Myanmar to liquidate a brewery joint venture there.
Myanmar Economic Holdings Public Company Ltd (MEHPCL) filed a petition on Nov. 19 to liquidate the venture, Kirin said in a statement. Kirin said it will seek to dismiss the petition over doubts the process will be handled fairly and legally.
Kirin said in February it was cutting ties with its military-linked partner in Myanmar after the army ousted the democratically elected government. Even as they negotiated a wind-down of the venture, Kirin executives said they wanted to stay involved in the Myanmar market.
"MEHPCL has been uncooperative in the negotiations, effectively rejecting our proposals," Kirin said in a statement.
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