Singaporean real estate holding company Yoma Strategic Holdings will buy a 65 percent stake in Myanmar-based restaurant operator Yankin Kyay Oh Group of Companies (YKKO) for 19.4 billion kyats ($12.6 million).
The deal, which will be paid on a willing-buyer, willing-seller basis, values YKKO’s tangible asset at about $4.09 million and the company will continue to hold the other 35 percent stake.
Yoma Strategic will finance the move using its internal resources and recent financing activities.
The company said that the move doubles its Yoma F&B store count and complements the international concepts it has already brought to Myanmar.