F&N receives arbitration notice from Myanmar partner

But it is said to 'vigorously resist' the claim.

According to a report by Bloomberg, Fraser & Neave Ltd. (FNN), controlled by Thai billionaire Charoen Sirivadhanabhakdi, said it received an arbitration notice from the lawyers of its partner in Myanmar Brewery Ltd.

The notice relates to an earlier claim by Myanmar Economic Holdings Ltd., the other stakeholder in the 18-year-old joint venture, that F&N has to sell its 55 percent stake in Myanmar Brewery to the partner.

“The matter is in the hands of the company’s lawyers,” F&N said in the statement to the Singapore exchange today. It earlier said it would “vigorously resist” the claim.

Read full report here.

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