Japanese firm Kirin snaps up F&N's Myanmar Brewery stake for US$560m

Kirin will be MEHL's nominee.

Japanese integrated beverages company Kirin will buy Fraser and Neave (F&N)'s 55% stake in the lucrative Myanmar Brewery.

Earlier this month, F&N has agreed to sell its stake to its joint venture partner Myanma Economic Holdings Limited (MEHL) following a long-drawn battle about the stake's valuation.

Kirin will act as MEHL's nominee and will acquire the stake for the agreed price of US$560m ($784m).