27th Jan 2015 10:45
LONDON (Alliance News) - Microfinance provider Myanmar Investments International Ltd on Tuesday said it and joint venture partner Myanmar Finance Co Ltd have entered a deal under which Norwegian Investment Fund has the option to subscribe to a stake in thes Myanmar Finance International Ltd joint venture.
Under the terms of the deal, Norwegian Investment Fund will have the option to subscribe to a stake of up to 25% in the joint venture. If the deal were completed, the joint venture partners' stakes in the company would be diluted to 37.5% apiece.
"Norfund is an experienced investor in microfinance businesses in developing countries where they provide equity and debt financing. We welcome their experience to help build MFIL into a leading Myanmar microfinance company," said Myanmar Investments Managing Director Aung Htun.
Shares in Myanmar Investments were untraded on Tuesday, having last traded at 1.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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