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shopper360 in deal with Pahtama for JV firm in Myanmar
SHOPPER marketing services provider shopper360 said on Wednesday evening it has entered into a non-binding memorandum of understanding with Pahtama Group Co for the incorporation of a new joint-venture (JV) company in Myanmar.
Shopper360 will hold 60 per cent of the JV company, with Pahtama taking the remaining 40 per cent.
Pahtama is one of the largest and fastest-growing distribution companies in the fast-moving consumer goods sector in Myanmar and is currently the exclusive distributor of the products of many multinational companies.
Shopper360 said the proposed JV will allow it to seize growing business opportunities in Myanmar by providing marketing services in the retail and consumer goods industries there.
The proposed JV is subject to, among other things, approvals of the respective board of directors of the parties involved and the due execution of the definitive agreements relating but not limited to the JV.