Allen & Overy has advised Pernod Ricard, the world’s second largest wines and spirits company on its joint venture with Yoma Strategic Holdings Ltd, Delta Capital Myanmar, and the Win Brothers in Myanmar.

The joint venture business will focus on the production and distribution of whisky in Myanmar and will see Pernod Ricard take the lead in the management of the production facilities, extensive distribution network and brand portfolio of Access Myanmar Distribution Company Ltd. This includes access to more than 40,000 points of sale, 43 major wholesalers in key demand centres, approximately 230 delivery vehicles and around 250 staff dedicated to sales and marketing as well as the High Class Whisky brand.

Working closely with Pernod Ricard, Allen & Overy advised on all aspects of the transaction, including the due diligence process, structuring the transaction and negotiation and preparation of key transaction documents. The transaction is subject to completion of the restructuring of the High Class business, as well as customary conditions on which the Allen & Overy team continues to advise Pernod Ricard.

Partner, Simon Makinson said: “The innovative joint venture structure supporting the deal demonstrates the potential for foreign companies to successfully enter Myanmar, despite local foreign ownership restrictions. This is a landmark transaction for Pernod Ricard, which represents the first major global producer of wine and spirits to establish a presence in Myanmar.”

Allen & Overy opened its Yangon office in 2013, as the first international law firm in Myanmar and has advised on a number of high profile matters for clients looking to enter or have successfully entered Myanmar.

The Allen & Overy team on this deal comprised Hong Kong-based partner Simon Makinson, Bangkok-based counsel Chris Burkett, Yangon-based senior associate Joshua Htet and Hong Kong-based associate Clara Chang.