Fraser and Neave increases investment in Emerald Brewery Myanmar

Fraser and Neave (F&N) 100Plus sports drinkFraser and Neave (F&N) 100Plus sports drink

Fraser and Neave’s wholly owned subsidiary F&N Investments (F&NI) subscribed for an additional 4.69 million new shares in Emerald Brewery Myanmar at US$1 each for a total of US$4.69 million, the beverage maker said in a filing to SGX Wednesday.

In addition, Myanmar-based Sun Ace Corp. also subscribed for another 1.17 million new shares at US$1 each in Emerald Brewery Myanmar for a total of US$1.17 million, the filing said.

Third partner in the brewery, Than Lwin Aye Yar Industrial Production & Construction (TLAY), didn’t subscribe for any additional shares, continuing to hold 76,500 shares, the filing said.

After the additional investments, F&NI holds 49,403,500 shares in Emerald Brewery Myanmar, or a 79.88 percent stake, Sun Ace holds 12.37 million shares, or a 20 percent stake, and TLAY has a 0.12 percent stake, the filing said.

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