Unilever Agrees to Sell Myanmar Joint Venture Stake to Centig Holding, Closing Expected in 2027

Unilever has agreed to sell its shareholding in Unilever EAC Myanmar Company Limited to Centig Holding Company Limited, an affiliate of its local joint venture partner Europe and Asia Commercial Company Limited, with completion expected in 2027. Channel NewsAsia reported the financial terms were not disclosed.

Unilever is a global consumer goods company operating four business groups across 30 Power Brands, with €50.5 billion in 2025 turnover. Centig Holding is an affiliate of EAC, Unilever's local joint venture partner in Myanmar.

Unilever's Exit From the Myanmar Joint Venture

A Unilever spokesperson said in response to questions from Reuters: "Unilever can confirm that it has agreed to sell its shareholding in Unilever EAC Myanmar Company Limited (UEMCL) to Centig Holding Company Limited, an affiliate of its local joint venture partner Europe and Asia Commercial Company Limited (EAC)."

Completion of the sale is expected in 2027 and remains subject to legal and regulatory approvals, according to the spokesperson. Unilever did not disclose financial terms of the transaction.

Unilever entered the Myanmar market in 2010 and signed a joint venture deal with EAC in 2017. Khit Thit media, a Myanmar news outlet, first reported the news.

Myanmar has been in turmoil since early 2021, when the military ousted an elected civilian government, triggering protests that expanded into a nationwide civil war against the junta. Since a widely criticised election at the turn of the year, junta chief-turned-president Min Aung Hlaing has travelled across Southeast Asian capitals seeking foreign investment.

The World Bank in June cut its forecast for Myanmar's real GDP growth to 2.0 per cent in the 2026/27 fiscal year, which began in April, from a projection of 3.0 per cent made before the war in Iran caused a global energy shock.

Unilever's Scale Across Emerging Markets

According to akta.pro company records, Unilever reported €50.5 billion in turnover in 2025, with 59% in emerging markets and 78% from Power Brands. The same records show Unilever products are sold in 190 countries and used by 3.7 billion people every day across Beauty & Wellbeing, Personal Care, Home Care and Foods.

Unilever's Recent Moves in Emerging Markets

On November 4, 2026, Unilever CEO Fernando Fernandez said India will be a blueprint for growth in other emerging markets, citing its distribution moat and four times the market share of the main competitor, Company Business News (Mint) reported. Unilever also said it will invest €35 million in its India R&D hubs in Mumbai and Bengaluru, Business Standard reported on November 4, 2026.

On November 3, 2026, Bloomberg reported that Unilever plans to save €1 billion by 2029 to support Fernandez's turnaround, with savings from streamlining its operating model and addressing stranded costs from merging its food business with McCormick & Co.

2027 Completion Date for the Myanmar Sale

The sale is expected to complete in 2027, subject to legal and regulatory approvals, according to the spokesperson.