TPG Capital snaps up 50% in Myanmar Distillery Company

Visual from the group website

US private equity giant TPG Capital has snapped up a 50 per cent stake in Myanmar Distillery Company, a manufacturer of alcoholic beverages in Myanmar, expanding its investment footprint in the frontier market.

Wall Street Journal report pegs the value of the transaction between $100 million and $200 million.

Myanmar Distillery Company, which is part of the IBTC Group, is known for its Grand Royal Whisky, Eagle Whisky and Royal Dry Gin brands. It has manufacturing facilities in Yangon and Mandalay.

The investment will see former Diageo chief executive Paul Walsh join MDC board as co-chairman and representative of TPG.

TPG Growth Capital made its first investment into Myanmar last year in Apollo Tower, a telecom infrastructure firm, which constructs towers for existing operators Telenor and Ooredoo.

A CNBC report said, quoting TPG partner and managing director Ganen Sarvananthan, in a press release, “This investment marks an exciting addition to our growing Southeast Asia portfolio.”

“The investments we have made across Southeast Asia in the last two years, including 8990, PropertyGuru and Apollo Towers, underscore our strategy of identifying and partnering with businesses and founders that are well-positioned to capitalise on key trends within their industries and markets,” according to the report.

Also Read:

Japan’s Kirin buys F&N’s Myanmar Brewery stake for $560m

F&N resolves Myanmar brewery sale ending lengthy dispute

Carlsberg establishes Myanmar brewery in JV with Myanmar corp

SAB Miller, Kirin Holdings, Singha & ThaiBev eye stake in Myanmar Brewery

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.