F&N loses fight over Myanmar brewery
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FRASER & Neave has lost a legal spat with a joint venture partner that has been trying to get F&N to adhere to a deal relating to Myanmar Brewery, which is viewed by many as the crown jewel of F&N's drinks business.
Myanma Economic Holdings (MEHL) said Monday that an arbitration panel has ruled in its favour. The panel has affirmed MEHL’s rights under a joint venture deal to buy F&N’s 55percent stake in Myanmar Brewery, maker of Myanmar Beer.
The ruling declared that MEHL, which holds the other 45 per cent, is entitled to buy F&N’s shares in Myanmar Brewery at fair value as at a date close to April 24 of last year.
The Straits Times/ANN
