Myanmar Strategic Holdings (MSH), a leading developer and operator of a portfolio of consumer-focused assets (hospitality, education and more recently security services), operating in Myanmar since its economy re-opened in 2013, has announced that it was raising USD 6 million from Belgian private equity firm Verlinvest SA and from its current largest shareholder, MACAN Pte Ltd.
Following the completion of the subscription, MACAN will hold 34.6 per cent of MSH’s capital while A-Star will own 7.2 per cent. In an exchange with Thura Swiss, MSH said funds raised will be used to consolidate and grow the group’s existing operations but also venture for the first time outside of Myanmar.
Indeed, the proceeds will be used to acquire English Learning Training (ELT) centers “Wall Street English” in Vietnam, itself owned by Verlinvest, in a separate transaction. MSH is already the exclusive licensee of Wall Street English in Myanmar and aims to achieve synergies through the acquisition.