Unilever agrees to sell Myanmar joint-venture stake, with completion expected in 2027

Unilever agrees to divest its Myanmar stake

Unilever has agreed to sell its shareholding in Unilever EAC Myanmar Company Limited, its manufacturing and distribution joint venture with Europe & Asia Commercial Company Limited, to Centig Holding Company Limited. The buyer is an affiliate of Unilever’s local joint-venture partner, and the transaction would transfer Unilever’s equity interest rather than establish a disclosed cash sale price or completed change of ownership.

A Unilever spokesperson confirmed the agreement on November 5. The company did not disclose the financial terms, so the available reporting does not establish the consideration, cash payer or cash recipient for the equity transfer.

Completion remains subject to approvals

The sale is expected to close in 2027, but completion remains contingent on required legal and regulatory approvals. The agreement therefore does not yet represent a completed divestment or final exit from Myanmar.

Unilever entered the Myanmar market in 2010 and formed UEMCL with EAC in 2017. The joint venture handled manufacturing and distribution in the country, according to the reporting on the agreement.

Exit follows worsening operating conditions

Unilever’s decision comes amid armed conflict, foreign-exchange controls, logistical blockages and international sanctions that have constrained commercial activity in Myanmar following the military’s February 2021 coup and ouster of the elected civilian government.

The timing contrasts with efforts by Myanmar’s military-backed leadership to attract foreign investment. Since a widely criticized election at the start of 2026, junta leader and president Min Aung Hlaing has traveled across Southeast Asian capitals seeking investment.

The World Bank cut its forecast for Myanmar’s real GDP growth to 2.0% for the fiscal year that began in April 2026, down from 3.0% before the war in Iran caused a global energy shock. That forecast change provides economic context for the transaction but does not establish that the exit was caused by any single factor.