Spirits and beer maker ThaiBev Public Company acquired a combined 75 percent stake in two Myanmar distilleries in a deal worth $742 million, reported Reuters.The company acquired the stake in Myanmar Supply Chain and Services (MSCS) and Myanmar Distillery Co (MDC) from four third-party vendors, including Texas-based private equity firm TPG which sold its 50 percent stake in MDC, according to Reuters. MDC is one of the largest beverage companies in Myanmar and is the producer of Grand Royal, a leading whisky brand in the country. ThaiBev’s brands include Chang Beer, Archa Beer, Federbraü Beer, SangSom Special Rum, and malt whiskey Blend 285. ThaiBev sales in the first nine months of 2016-17 fiscal year, from October 2016 to June 2017, dropped six percent year-on-year to $4.3 billion) due to slow economic growth. The move is intended to expand ThaiBev’s distribution network in Myanmar.