TPG toasts exit of Myanmar whisky distillery

The US private equity firm has made a spirited job of its investment in a Yangoon-based, making a clean and profitable sale of the whisky brand to ThaiBev. A fillip for its fund-raising drive.

TPG said on Friday it has sold its stake in the Myanmar Distillery Company MDC to Asia spirits group Thai Beverage for $494.4 million, a home run on its investment at a time when it is raising capital for its next string of deals in the region.

ThaiBev, run by billionaire Charoen Sirivadhanabhakdi, said in a separate statement said it had bought a 75% stake in MDC from TPG and other parties for a combined $742 million.

TPG acquired a 50% stake in MDC in 2015 for $150 million, a person familiar with the matter said, indicating it has made...

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