TOKYO -- Japan's Kirin Holdings has withdrawn its request for arbitration over the termination of a joint-venture partnership with a Myanmar company that it had filed with the Singapore International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