Baker McKenzie is advising longstanding client, Unilever, on a joint venture with Europe & Asia Commercial Company Ltd (EAC) in Myanmar. The transaction builds on Unilever and EAC's current operations in the country and evidences Unilever's long-term commitment to strengthen its portfolio, build scale and accelerate growth in the country and across the South East Asian market.
The joint venture, with annual sales in excess of €100 million, will manufacture, market and distribute home and personal care products in Myanmar.
Commenting on the deal, Baker McKenzie London-based corporate partner, Tim Gee, said: "This joint venture will strengthen Unilever's footing in Myanmar and confirms confidence in the country's strong market growth opportunities. We're proud to have played a part in this strategic deal, having worked with the company for many years. For us, this transaction is also a great demonstration of our unique cross-border and emerging markets transactional expertise."
The Baker McKenzie team was led by corporate partner, Andrew Martin, out of our Singapore office, together with London corporate senior associate, Alexander Gee. The team was supported from London by partners Tim Gee (Corporate), Michelle Blunt (IP) and Nick Tostivin (Finance), and from the Yangon office by partners Ross Taylor (Corporate) and Matthew Hopkinson (Finance) and senior counsel Min Min Ayer Naing (Corporate).
Andrew Martin further commented: “Myanmar’s return to the international fold has given rise to an exciting new market in South East Asia, but the rapid evolution of its laws and regulations poses challenges for the national regulators, foreign investors and their professional advisers alike. We are delighted to have helped Unilever to navigate the changing landscape and look forward to continuing to support them in such markets.”
The mandate is the latest example of the work of Baker McKenzie's global Consumer Goods & Retail industry group, which uses industry insight and knowledge to best understand and anticipate clients needs.
