Unilever agrees to sell Myanmar joint-venture stake to Centig
The consumer-goods company expects the sale to close in 2027, subject to legal and regulatory approvals.
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The consumer-goods company expects the sale to close in 2027, subject to legal and regulatory approvals.
Unilever has agreed to sell its shareholding in Unilever EAC Myanmar Company Limited to Centig Holding Company Limited, an affiliate of its local joint-venture partner, Europe and Asia Commercial Company Limited (EAC), a Unilever spokesperson told Reuters. The spokesperson did not disclose the financial terms.
Unilever entered Myanmar in 2010. EAC says the companies combined their home and personal care businesses to form the joint venture in May 2017. The venture manufactures, markets and distributes those products in Myanmar.
EAC says it was founded in Myanmar in 1994 as an importer of home care products and beverages and later expanded into manufacturing consumer goods. Its corporate profile says Centig Holding was incorporated in 2020, bringing together Centig Food Co., Ltd and Centig Consumer Goods to expand in food and consumer goods.
The Unilever spokesperson expects the sale to be completed in 2027, subject to legal and regulatory approvals.
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