Retired Lieutenant General Nyo Saw is a savvy operator and a close ally of junta leader Senior General Min Aung Hlaing.
The drinks giant has agreed to a 22.4-billion-yen buyout of its stake in Myanmar Brewery, a joint venture with a military-controlled conglomerate.
Heineken, Carslberg and Chang see an opportunity as products made by military-run Myanmar Brewery are shunned by consumers opposed to last year’s coup.
Kirin this week quit a brewing joint venture with a military-owned firm, citing economic and human rights concerns; the junta said it would be ‘easy to substitute’.
The move follows months of wrangling after last February’s coup, which prompted the brewer to seek to end its joint venture with a military-linked company.
The beverage giant says military conglomerate MEHL rejected its plan for ending their brewing venture and was attempting to liquidate it in violation of their agreement.
Legal experts suggest brewery’s formerly best-selling brands may be marketed under a different company name in the future.
The beverage giant said sales at Myanmar Brewery, which is currently the target of an anti-regime boycott, plummeted by nearly 50 percent on-year in Q3.