Myanmar: Colgate toothpaste buy secures record deal for nation

Myanmar is set to see its largest-ever inbound merger deal thanks to US toothpaste conglomerate Colgate-Palmolive.

According to reports, Colgate acquired Myanmar’s Laser Brand Toothpaste, a $100 million takeover that is the largest foreign investment in the nation. Reports add that the deal marks a major development for the nation with the US investment since Myanmar’s 60 years of military rule ended in 2012.

General Electric, Gap and Coca-Cola have all also restarted their operations in the nation in the last two years, according to reports.

Unnamed sources first told reporters about Colgate’s deal, but the company confirmed the transaction. The firms declined to comment on financial details.

Full content: Wall Street Journal

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