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Japan's Kirin exits Myanmar business with military-linked partner

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TOKYO : Japanese drinks company Kirin Holdings will sell its Myanmar business to its military-linked local partner, it said on Thursday, exiting the Southeast Asian country more than a year after the military toppled an elected government.Kirin will sell its 51 per cent stake in the Myanmar Brewery Limite

TOKYO : Japanese drinks company Kirin Holdings will sell its Myanmar business to its military-linked local partner, it said on Thursday, exiting the Southeast Asian country more than a year after the military toppled an elected government.

The brewer said on Thursday it had also considered transferring its stake to a third party or liquidating the business but decided not to pursue either of those options. "Kirin appears to be excusing this irresponsible exit by claiming it is in the best interests of workers," Justice for Myanmar spokesperson Yadanar Maung said.

The United States imposed sanctions on both - the other one is the Myanmar Economic Corporation - after the military seized power on Feb. 1 last year, ousting a government led by Nobel Peace Prize laureate Aung San Suu Kyi.

 

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