Yoma Strategic, together with PMM Partners Limited, will acquire a 30% and 20% interest respectively in ABC Group’s assets and businesses relating to the production, branding, marketing and distribution of bottled water, spirits, wines, beers, alcoholic beverages and other FMCG products in Myanmar.
The aggregate consideration of Yoma Strategic’s proposed acquisition of 30% of the ABC Group’s assets and business operations is up to US $11.1m, comprising an initial amount of US $3.3m and a further amount of up to US $7.8m to be paid at a later stage based on certain performance benchmarks, with funding to be derived from internal resources.
“This partnership with ABC Group presents significant long-term opportunities for Yoma Strategic to expand its entry into the FMCG sector,” said Yoma CEO Andrew Rickards. “In addition to working with ABC Group to scale its current production and distribution capabilities into a larger FMCG platform, we are also looking to establishing relationships with local and international FMCG groups. Beyond that, there are also exciting opportunities for us to create synergies with the other businesses in the Yoma Strategic portfolio.”
Source: Yoma Strategic Holdings
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