Unilever agrees to transfer its Myanmar stake
Unilever has agreed to sell its shareholding in Unilever EAC Myanmar Company Limited to Centig Holding Company Limited, an affiliate of its existing joint-venture partner, Europe and Asia Commercial Company Limited. The company said it will sell the stake, marking its planned withdrawal from the Myanmar market.
The transaction is expected to complete in 2027, subject to legal and regulatory approvals. The financial terms were not disclosed.
The Myanmar joint venture
Unilever entered Myanmar in 2010 and established the three-way joint venture in 2017 to develop its home and personal care operations. The buyer identified in the reports is Centig Holding Company Limited, while Europe and Asia Commercial Company Limited is the existing joint-venture partner.
The transfer concerns ownership of Unilever’s shareholding in the Myanmar venture. The available reports do not provide a separate cash price or other financial terms.
Political and economic context
The announcement comes amid prolonged political instability following Myanmar’s 2021 military takeover, which has disrupted economic activity and weakened the country’s investment environment.
Unilever’s withdrawal reflects the commercial and operational risks associated with maintaining manufacturing, distribution and retail operations in the country, according to the reports. Transferring ownership to the local partner is intended to reduce the company’s direct exposure to the market.
Completion remains conditional
The sale was still subject to legal and regulatory approvals, with completion expected in 2027. No additional terms, approval milestones or financial consideration were disclosed in the reviewed reports.
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