Friday 26 Apr 2024
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SINGAPORE (Oct 31): A military-linked Myanmar conglomerate said it has won an arbitration case against Singapore's Fraser and Neave that will give it the right to buy the latter's stake in Myanmar's biggest brewery.

Myanma Economic Holdings Limited (MEHL) said in a statement on Friday that a panel of two unnamed Singapore arbitrators heard the case in the city state from late June to early July.

MEHL said the panel released a ruling earlier on Friday which says MEHL is entitled to buy F&N's shares in Myanmar Brewery.

F&N and its parent company, Thai Beverage, on Friday submitted a request to the Singapore Exchange for a halt in trading of their shares.

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