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AP National Business

Japan’s Kirin to withdraw from its Myanmar brewery venture

KVIA
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Published 11:48 PM

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Japanese beverage giant Kirin says it has decided to withdraw from its joint venture in Myanmar. The company said Monday that it made the decision to “urgently terminate” the partnership with Myanma Economic Holdings Plc after finding it would be difficult to quickly end the venture in the way it wanted to. Kirin announced more than a year ago that it was unhappy with a Feb. 1, 2021, military takeover that violated its corporate standards and human rights policy. The company said it will sell its 51% stake, but not to MEHL.  

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