F&N Under Fire From JV Partner Over Myanmar Brewing Stake

Law360, New York (August 29, 2013, 1:45 PM EDT) -- A joint venture partner of Fraser & Neave Ltd. plans to start arbitration proceedings over the Singapore conglomerate’s majority stake in a Myanmar brewery, it said in a Thursday filing, potentially complicating the company’s ambitious expansion plans in Southeast Asia’s booming beverage market.

Myanmar Economic Holdings Ltd., run by the Myanmar military, is seeking to overtake F&N’s 55 percent interest in Myanmar Brewery Ltd. using an unspecified provision in the pair’s joint venture agreement.

But the conglomerate — whose holdings make it one of the premier...
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