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Myanmar Crisis

Kirin pulls arbitration request in venture with Myanmar military

Japanese beverage maker moves forward with exit from country

Kirin had hoped to continue selling beer in Myanmar after the dissolution of the joint venture but it was not able to do so.

TOKYO -- Japan's Kirin Holdings has withdrawn its request for arbitration over the termination of a joint-venture partnership with a Myanmar company that it had filed with the Singapore International Arbitration Centre, Kirin announced Wednesday.

On Tuesday, Kirin withdrew the arbitration request, while its joint-venture partner, Myanma Economic Holdings Public Company, on the same day withdrew its request for liquidation of the joint venture, Myanmar Brewery, that it had filed with a local court. Both sides agreed to withdraw their petitions as Kirin has decided to sell its stake in the joint venture.

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