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Unilever to sell Myanmar joint venture stake, deal expected to close in 2027
Unilever has agreed to sell its stake in its Myanmar joint venture, ending its involvement in the business as the country’s military-backed government seeks foreign investment. The planned exit highlights the challenges facing companies operating amid Myanmar’s prolonged political turmoil and civil war.
The stake will be sold to Centig Holding, an affiliate of local partner Europe and Asia Commercial Company. Unilever entered Myanmar in 2010 and formed the venture in 2017; completion is expected in 2027, subject to legal and regulatory approvals. The company did not disclose the financial terms, while the World Bank forecasts Myanmar’s economy will grow by 2 per cent in the 2026/27 fiscal year.
In short
- Unilever has agreed to sell its Myanmar joint venture stake.
- The deal is expected to close in 2027, pending approvals.
- The World Bank forecasts 2 per cent growth in 2026/27.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Selling its stake could let Unilever end its direct exposure to a business operating amid civil war and political turmoil, while transferring responsibility to a local partner. A completed sale may also provide continuity for the joint venture and signal that foreign investment can still support economic activity in Myanmar.
The case against
Leaving may reduce Unilever’s ability to influence how the business operates and affect workers, suppliers and customers who depend on it. A sale to an affiliate of the local partner could also be seen as enabling business continuity under military-backed rule, even as conflict and political uncertainty persist.