Yoma Strategic Holdings Takes Over Asia Beverages
News: Singapore-listed Yoma Strategic Holdings has acquired a stake in Myanmar-based Asia Beverages Company (ABC) under a definitive business sale agreement, which is subject to certain conditions. The agreement has marked Yoma's entry into Myanmar's fast-moving consumer goods (FMCG) sector. Yoma and PMM Partners will acquire 30% and 20% stakes respectively in ABC's assets and businesses in production, branding, marketing and distribution of bottled water, spirits, wines, beers, alcoholic beverages and other FMCG products in Myanmar. Yoma has reportedly paid up to US$11.1mn for the 30% stake, including an initial amount of US$3.3mn and an additional amount of up to US US$7.8mn to be paid at a later stage, decided by certain performance benchmarks, with funding to be derived from internal resources.