BUSINESS – Burma says ‘gam bei!’ to Asahi

Asahi Group Holdings Ltd announced on Friday that it has agreed to establish a joint venture with Burmese beverage maker Loi Hein Co to produce and sell carbonated soft drinks, according to Japan’s Jiji Press. Asahi will reportedly invest 2.3 billion yen (US$22 million) to acquire a 51 percent stake in the joint venture. Tokyo-based Asahi Breweries is best known as the manufacturer of Asahi beer. As of 2009, the company had a 40 percent share of the Japanese beer market.