High Court dismisses interim injunction versus F&N in Myanmar Brewery spat
But the dispute is not over yet.
The Singapore High Court has dismissed an interim injunction filed against Fraser & Neave (F&N) by Myanma Economic Holdings (MEHL).
The interim injunction sought to force F&N to hand over its 55% stake in Myanmar Brewery (MBL) for the sum of 500 billion kyat by August 20. MEHL wants to use the current US dollar exchange rate, while F&N wishes to use the 2013 rate.
F&N had earlier stated that MEHL’s refusal to complete the deal using the 2013 exchange rate is a breach of its legal obligations, and insisted that it intends to remain as a shareholder of MBL.