Yoma Strategic, Pernod Ricard announce JV, target leadership in Myanmar’s whisky industry

Yoma Strategic Holdings Ltd. (“Yoma Strategic”) and Pernod Ricard have announced that they intend to form a joint venture company which will focus on the production and distribution of whisky in Myanmar. Pernod Ricard will install an internationally experienced management team and become the largest shareholder in the new company.

The remaining equity will be split between Yoma Strategic, private equity firm Delta Capital Myanmar and U Htun Win and U Zaw Win (“Win Brothers”), both experienced professionals in Myanmar’s alcoholic beverages sector.

Pernod Ricard is the world’s second-largest wines and spirits company, and its market entry represents the first time a major global producer of wine and spirits has established a formal presence in Myanmar.

The move further consolidates Pernod Ricard’s leading position in Asia, notably in the whisky category with Chivas, Ballantine’s and Seagram’s whiskies popular in the region. Myanmar will be the 86th country in which Pernod Ricard has established a direct affiliate.

The closing of the transaction is subject to completion of the restructuring of the High Class business as well as customary conditions. It is expected to take place in 2019.

Source: Myanmar Times

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