U Thein Tun, the first person to introduce Pepsi soft drink in Myanmar and who bought shares in Tun Foundation Bank and Myanmar Times, has died.

U Thein Tun, 85, died while receiving medical treatment in Thailand, according to a source close to him.

U Thein Tun, a leading figure in the Myanmar business community, partnered with Pepsi in the 1990s to produce soft drinks such as Pepsi Cola, 7 up and Mirinda.

He became known as Pepsi Thein Tun after being awarded World's Best Producer Award and Business Excellence Awards from the Pepsi Cola International and the United Kingdom.

He also founded the Tun Foundation Bank in 1994 and donated its profits back to the education and health sectors.

U Thein Tun bought shares in Myanmar Consolidated Media Company in 2014, which publishes The Myanmar Times. He has also been involved in a number of industries, including the real estate, construction, publishing and beverage sectors.