Acted for Fujita Corporation in the sale of 70% of the shares in Myaung Mya FM Biomass Power Co Ltd from Myanmar Agribusiness Public Company Limited. Myaung Mya FM Biomass Power Co Ltd was incorporated as a joint venture company between the parties.
Our scope of work included drafting the Sale and Purchase Agreement, drafting the Shareholders Agreement, and assisting with completion (including obtaining regulatory approval from the Myanmar Investment Commission).
Myanmar is currently facing a shortage for electricity. This transaction is significant as it is part of a reorganisation of the business for the biomass power plant, which is currently off-grid, to connect and provide electricity to the national grid.
