Next Generation Partners

Corporate and M&A in Myanmar

Allen & Gledhill (Myanmar) Co., Ltd

The multi-faceted, multi-skilled and diverse team’ at Allen & Gledhill (Myanmar) Co., Ltd advises local and international corporations across a range of industries present in Myanmar, including banking, capital markets, energy, projects and real estate. On cross-border issues, the firm is able to utilise its inclusion in the Allen & Gledhill LLP network to draw on the skills and experience of lawyers in other jurisdictions. Managing partner Minn Naing Oo co-heads the corporate and M&A practice, counting multinational corporations, multilateral agencies, financial institutions, private equity funds and Myanmar conglomerates among his key roster of clients, alongside Oh Hsiu-Hau, who advises on acquisitions, joint ventures and private equity matters.

Practice head(s):

Minn Naing Oo; Oh Hsiu-Hau


‘A multi-faceted, multi-skilled and diverse team with a broad range of expertise and the only full-service firm one would need for the Myanmar market. The A&G team is proactively responsive, at all levels, whether it is for meetings, discussions or even simple queries.’

‘Minn Niang Oo is an extremely seasoned multi-jurisdiction qualified lawyer, who is an absolute asset where Myanmar legal expertise is concerned. He is ever ready to advise on corporate, regulatory, construction, insurance and dispute matters or is able to swiftly bring other local experts from his team onboard.’

‘Strong on the ground and good local knowledge.’

Work highlights

  • Advising The New Yangon Development Co., Ltd., a company established by the Yangon Regional Government, as transaction counsel, on the US$1.5 billion phase 1 development of the New Yangon City in the western Yangon region of Myanmar.

DFDL Legal & Tax

DFDL Legal & Tax acts for major clients across the market. In its largest practice area, corporate and M&A, the firm holds strong relationships with notable clients from across the globe such as Total, Facebook, Cargill and Carlsberg. Its speciality in corporate and M&A is advising the structuring of foreign direct investment, as well as regularly acting on complex M&A transactions. On top of leading the 'pragmatic' practice, Nishant Choudhary advises on a range of issues in fintech, telecoms, real estate and aviation, while Mar Mau Aung focuses on matters in the real estate, mining and infrastructure sectors.

Practice head(s):

Nishant Choudhary

Other key lawyers:

Mar Mau Aung


‘They are pragmatic and seek solutions to overcome issues and to help to finalise the transactions.’

‘They are knowledgeable of the local market, have a pragmatic approach and great efficiency in dealing with matters.’

Key clients


British-American Tobacco Myanmar

Dr. Reddy’s Laboratories

Export Import Bank of China

Nordic Aviation


Work highlights

  • Acted as Myanmar counsel on both sides of the US$425 million cross-border M&A for the sale of financial services company 2C2P, both its parent company and all related Myanmar companies.

Tilleke & Gibbins

With a mix of local- and foreign-qualified lawyers in its practice, Tilleke & Gibbins is well-placed to provide ‘on-the-ground expertise‘ on cross-border corporate and M&A matters, including foreign direct investments, private equity issues and joint ventures. In addition, the firm is able to offer its foreign clients strategic market entry advice. Yuwadee Thean-ngarm, as co-head of the practice, is a key driver of foreign direct investment into Myanmar. Derrick Khoo, the practice’s second co-head, advises on M&A, private equity and capital market transactions. Senior associate Nwe Oo assists clients of all sizes, including multinational corporations and is another key contact in the group.

Practice head(s):

Yuwadee Thean-ngarm; Derrick Khoo

Other key lawyers:

Nwe Oo


‘Tilleke and Gibbins are unique in that they have a presence in jurisdictions in the ASEAN region such as Laos, Cambodia and Myanmar that many other ASEAN firms do not, giving it the best on-the-ground expertise in those jurisdictions.

‘Derrick Khoo stands out. He anticipates a client’s needs and advises with great foresight.’

‘The main strengths of Tilleke & Gibbins are its people and their ability to collaborate to provide legal services, regulation reviews and business guidelines to clients.’

‘Yuwadee Thean-ngarm and the team have a strong willingness to support clients with service in mind, flexibility and professionalism. ’

Key clients

AIDS Healthcare Foundation



Brighter PTT Oil and Retail Business Company Limited

Heineken Myanmar

KBZ Bank

KBZ Group


Meta / Facebook

Myanmar Information Highway

Work highlights

  • Advised one of the largest energy drink manufacturers in ASEAN to assist with all legal matters in connection with its approx. USD 7 million JV for the establishment of a major manufacturing facility in Myanmar.
  • Acted for AvePoint, a U.S.-listed vendor of software-as-a-service (SaaS) solutions for Microsoft 365, on the Myanmar aspects of its acquisition of 100% of shares in i-Access Solutions Pte Ltd. and i-Access Solutions Myanmar Co., Ltd.
  • Assisting Brighter PTT Oil and Retail Business Company Limited with the expansion of oil and gas retail businesses and a major regional café chain in Myanmar.

Duane Morris & Selvam (Myanmar) Limited

Duane Morris & Selvam (Myanmar) Limited advises on all aspects of corporate and M&A matters in Myanmar, and enhances this practice with its network of offices across the world, assisting on multi-jurisdictional matters involving US, Singaporean, Chinese and English law. Leon Yee and Priyank Srivastava jointly lead the practice. Yee regularly advises on corporate governance mandates, restructurings and joint ventures, while Srivastava focuses on oil and gas, LNG and power matters. In April 2023, Lan Yu left the firm.

Practice head(s):

Leon Yee; Priyank Srivastava


‘Duane Morris & Selvam have expert partners and are a highly competent team. They are very open to hearing the client’s needs and suggestions and have a very collaborative approach.’

‘Priyank Srivastava is a hands-on partner and gives a lot of time to an assignment. He understands the nuances of the assignment and the client’s expectations and has the great ability to manage them too.’

‘The team is fabulous. It has deep expertise across a wide breadth of industries.’

‘Priyank Srivastava is able to balance commercial and legal considerations in all his advice and engagement with us.’

‘The firm’s responsiveness is vital to the type of advice that we sought. They are sensitive to the urgency of the matters and that what we appreciate the most. Their advice is always solid, practical and solution-oriented.’

‘We are impressed with their attention to details and willingness to go beyond.’

Key clients

Khaing Lon Gems (YIG Group)

Goldman Investment Int Holdings

Iceberg Holding

KDB Bank

State Bank of India

Beijing Deheng, Sichuan Petroleum and Natural Gas Construction Engineering Co.

Crown Agent Bank

Shwe Min Gan Finance Company

Indraprashta Gas Limited



SK Energy

The Nature Conservancy

GreatWall Food Stuff Industry Company Limited

Work highlights

  • Advising a PRC company on its approx. USD 100 million housing/commercial development project and joint-venture matters with a Myanmar conglomerate.
  • Advising a Singapore oil & sas retail holding company with its expansion plans in Southeast Asia.
  • Advised an Indian state-owned bank with review and finalization of a corporate guarantee from a Singapore company.

Myanmar Legal MHM Limited

The corporate and M&A practice at Myanmar Legal MHM Limited houses experienced lawyers from a wide range of jurisdictions including Myanmar, Japan, Thailand and a number of Commonwealth countries. Takeshi Mukawa handles investments and M&A, as well as joint ventures for major clients. Mukawa leads the practice alongside Kana Manabe, who has handled joint ventures and acquisitions for an array of Japanese firms. Atsushi Inoue is another notable member of the practice.

Practice head(s):

Takeshi Mukawa; Kana Manabe

Other key lawyers:

Atsushi Inoue

Key clients

Kirin Holdings Company, Limited

Myanmar Agro Exchange Public Company Limited


AEON Mall Co., Ltd.

Bangkok Bank Public Company Limited

Mitsui Sumitomo Insurance Company Limited

Wacoal Holdings Corp.

Nippon Life Insurance Company

Tokio Marine Asia Pte Ltd

Toyota Myanmar Co., Ltd.

Mitsubishi Corporation

Work highlights

  • Advised Kirin Holdings Company, Limited on a high profile divestment from its joint ventures businesses in Myanmar under one of the first major share buybacks since the modernisation of Myanmar’s corporate laws starting in 2018.
  • Advising Myanmar Agro Exchange Public Company Limited on the first listing to be approved since a state of emergency was declared in Myanmar on 1 February 2021.
  • Advising Mitsui Sumitomo Insurance Company Limited, among other clients in Myanmar, on matters arising from their joint venture business in Myanmar.

Nishimura & Asahi

Nishimura & Asahi advises foreign businesses and government-related organisations in their entry into Myanmar, as well as joint ventures, liquidations and sales. The firm is able to leverage its experience to negotiate with government authorities on behalf of its clients. Yusuke Yukawa heads the Yangon office and represents clients with investments into the country across business sectors. At the associate level, Saw Nyan Htun handles general corporate matters.

Practice head(s):

Yusuke Yukawa

Other key lawyers:

Saw Nyan Htun; Kyi Chan Nyein

Key clients

Japan International Cooperation Agency

Embassy of Japan in Myanmar

JETRO Yangon

Work highlights

  • Drafting the by-laws for Myanmar’s new insurance business law to govern the country’s entire insurance sector.
  • Acting as the outside legal adviser of the Embassy of Japan in Myanmar.
  • Contributing to and coordinating the programme to support Japanese SMEs investing in Myanmar.

Rajah & Tann Myanmar Company Limited

Rajah & Tann Myanmar Company Limited support its clients across industries with a particular strength in assisting on fintech matters, such as fintech-related acquisition financings. The firm also advises on regulatory and corporate insurance issues, in addition to its M&A work. Chester Toh and Min Thein jointly lead the practice. Toh advises on the complex licencing and regulatory landscape in Myanmar, while Thein supports international clients in their investments into Myanmar. In January 2023, Myo Thant Swe was promoted to partner.

Practice head(s):

Chester Toh; Min Thein

Other key lawyers:

Myo Thant Swe


‘Very responsive. Offer practical, considered advice, and take a commercial approach to resolving issues.’

Key clients



Myanmar Apex Bank Limited

Yoma Bank Limited

Win Brothers Group of Companies

Right Healthcare

Zeya & Associates

Work highlights

  • Advised on the sale by Ooredoo South East Asia Holdings W.L.L of its interest in Ooredoo Asian Investment Pte Ltd, the Singaporean holding company of Ooredoo’s mobile operating business in Myanmar.
  • Advised Facebook on the risks and impact of the Myanmar coup on its operations, including the ban on Facebook, WhatsApp, Instagram, security aspects, ban of military pages, cyber security aspects and data interception orders.
  • Acted for MAB in its financing of the acquisition of a majority stake in Digital Money Myanmar Limited, which operates Wave Money, the largest e-payment business in Myanmar, from Telenor group by a consortium led by Yoma Group.


VDB Loi is noted for its advisory work concerning foreign investment, M&A, banking and taxation. International financial institutions, development banks, commercial lenders and multinational corporations all turn to the firm for advice on Myanmar matters. Edwin Vanderbruggen frequently advises the government on transactions and privatisations across industries, while Aye Myat Thu was promoted to partner in April 2023 and focuses on corporate and land acquisition matters. Other key contacts in the group include Jean Loi, Ho Chi Minh-based Maxim Kobzev, My Le and Anna Makosa. All named practitioners collectively lead the practice.

Practice head(s):

Edwin Vanderbruggen; Jean Loi; Maxim Kobzev; Aye Myat Thu; My Le; Anna Makosa

Work highlights

  • Advised a Thai alcohol drinks manufacturing company regarding its unwinding up of a potential investment in Myanmar.

Luther Law Firm Limited

The ‘focused, responsive and experienced team’ at Luther Law Firm Limited houses lawyers qualified in a number of jurisdictions beyond Myanmar, ensuring its clients are provided with advice on cross-border transactions. The firm advises on corporate restructurings, development finance mandates, M&A and joint ventures between the government and international investors. Alexander Bohusch leads the practice, focusing on international taxation and corporate law. Also of note at the associate level is Lukas Baumgärtner.

Practice head(s):

Alexander Bohusch

Other key lawyers:

Lukas Baumgärtner


‘Alexander Bohush is very knowledgeable.’

‘Alexander Bohush stands out the most. He not only does corporate security work but also advises on current Myanmar laws. He takes clients’ matters seriously and replies quickly.’

‘Very focused, responsive and experienced team. Has vast experience in the NGO sector and is well-established and connected in the market.’

Key clients

Jardine Cycle&Carriage


Grand Royal Group

Bestseller A/S

Coca-Cola Pinya

Apollo Towers


Emerging Markets Investment Advisers





Tetra Pak


Thyssen Krupp


Eurofins / Agoda