F&N shares tumble after losing legal spat over Myanmar joint venture stake

SINGAPORE - Singapore food-and-beverage giant Fraser & Neave (F&N) saw its shares fall 14 cents to $3.01 in early morning trade on Monday - its lowest price in about two months.

The 4.44 per cent drop, the biggest since March, follows F&N's recent loss in a legal spat with joint venture partner Myanma Economic Holdings.

F&N may be forced into selling its 55 per cent stake in fast-growing Myanmar-based beer purveyor, Myanmar Brewery.

Myanmar Brewery has been viewed by many as the crown jewel of F&N's drinks business.

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