Yoma Strategic enters into shareholders’ agreement for Yangon landmark development

SINGAPORE (July 12): Yoma Strategic Holdings, together with its wholly-owned subsidiary Yoma Strategic Investments (YSIL), has entered into an agreement with Mitsubishi Corporation and Mitsubishi Estate; First Myanmar Investment (FMI); and the International Finance Corporation (IFC), to redevelop a mixed-used development in Yangon, Myanmar.

The Asian Development Bank (ADB) is also to become a party of the deal as one of the conditions of the agreement.

The proposed landmark development excludes its plans to redevelop the former headquarters of the Burma Railway Company into a five-star hotel, The Peninsula Yangon, which was announced in 2013.

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