TOKYO, Feb 5 (Reuters): Japanese drinks giant Kirin Holdings on Friday scrapped its beer alliance with a conglomerate linked to the Myanmar military after the army staged a coup deposing the democratically elected government earlier this week.
The move effectively scraps the joint venture called Myanmar Brewery, in which Kirin s controlling stake is valued at up to $1.7 billion, and follows an inconclusive, seven-month probe mandated by Kirin into its Myanmar partner.
The abrupt end to the alliance is a caution for other Japanese companies, from Aeon Co to auto-parts maker Denso Corp, whose Myanmar ventures have also been thrown into question after the army takeover, analysts said.
U.S., others weighing sanction options after Monday’s coup Kirin’s stake in MBL valued at $1.4 bln - $1.7 bln - Bernstein Consumers in Myanmar shun army-linked products (Adds details, Myanmar boycott, context)
TOKYO, Feb 5 (Reuters) - Japanese drinks giant Kirin Holdings on Friday scrapped its beer alliance with a conglomerate linked to the Myanmar military after the army staged a coup deposing the democratically elected government earlier this week.
The move effectively scraps the joint venture called Myanmar Brewery, in which Kirin’s controlling stake is valued at up to $1.7 billion, and follows an inconclusive, seven-month probe mandated by Kirin into its Myanmar partner.