S'porean Company to Tie Up with Blacklisted Burmese
6 July 2012
Aussino Group, a Singaporean bed-linen maker that hopes to invest in petrol stations in Burma, has appointed a financial adviser to facilitate a proposed US $47.38 million reverse takeover by Burmese conglomerate Max Myanmar, according to Reuters. The deal, which will give Max Myanmar majority control of Aussino, faces legal hurdles because the company is headed by Zaw Zaw, a tycoon targeted by US sanctions. Prime Partners, a boutique advisory and asset management firm, will help Aussino get the regulatory approval needed for a proposed injection of Burmese assets into the Singapore firm.