The consumer goods giant agreed to offload its stake in Unilever EAC Myanmar Company Limited to partner affiliate Centig Holding Company Limited, with completion expected in 2027 pending regulatory approvals. The move marks the end of a presence that began in 2010 before expanding into a joint venture with Europe and Asia Commercial Company Limited in 2017. Financial details remain undisclosed as the country grapples with an ongoing civil war triggered by the 2021 military takeover. Reflecting these strained conditions, the World Bank lowered Myanmar's real GDP growth forecast for the 2026/27 fiscal year down to 2.0 percent.
Key points
Unilever is fully unwinding its business operations in Myanmar after more than a decade i…: Unilever is fully unwinding its business operations in Myanmar after more than a decade in the market.
Ongoing civil conflict following the early 2021 military coup has severely disrupted the…: Ongoing civil conflict following the early 2021 military coup has severely disrupted the nation's broader business environment.
Worsening economic growth and political instability continue to hinder military junta lea…: Worsening economic growth and political instability continue to hinder military junta leader Min Aung Hlaing's efforts to attract foreign investment.
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Nov 5 : Consumer goods giant Unilever said on Thursday that it will exit a joint venture in Myanmar, even as a new military-backed government in the war-torn Southeast Asian country seeks to drum up foreign investment.
• "Unilever can confirm that it has agreed to sell its shareholding in Unilever EAC Myanmar Company Limited (UEMCL) to Centig Holding Company Limited, an affiliate of its local joint venture partner Europe and Asia Commercial Company Limited (EAC)," a Unilever spokesperson said in response to questions from Reuters
• Unilever, which entered the Myanmar market in 2010, signed a joint venture deal with EAC in 2017
• Completion of the sale is expected in 2027 and remains subject to legal and regulatory approvals, according to the spokesperson, who did not disclose financial terms of the transaction
• The news was first reported by Khit Thit media, a Myanmar news outlet
• Myanmar has been in turmoil since early 2021 when the military ousted an elected civilian government, triggering widespread protests that expanded into a nationwide civil war against the junta
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