Singapore's Yoma to pick up $11.1M stake in Myanmar's consumer goods firm
Singapore listed firm Yoma Strategic Holdings has entered an agreement to purchase a holding in the Asia Beverage Co group of companies (ABC Group). The stake acquisition deal marks Yoma's first entry into the consumer goods industry of Myanmar, according to Straits Times.
Under the terms of the said deal, Yoma will team up with investment firm PMM Partners to acquire a 30% stake in the assets of ABC Group. In addition, the Yoma-PMM pair will also pick up a 20% interest in the group's consumer goods-related businesses, the report detailed.
According a disclosure to the Singapore Exchange on Monday, Yoma said the consumer goods businesses of ABC that are involved in the purchase deal include production, marketing, branding, and distribution of bottled water, wines, spirits, beers, and other alcoholic drinks, the report explained.
Yoma will shell out a maximum of $11.1 million (S$14.2 million) for the proposed stake purchase, Straits Times reported.
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