for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Deals

Coca-Cola Brasil asks court to void Heineken acquisition in Brazil: report

Slideshow ( 2 images )

SAO PAULO (Reuters) - Coca-Cola Brasil has filed a motion in a Brazilian court to annul the 2017 Heineken HEIN.AS acquisition of Brasil Kirin , the Valor Economico newspaper reported on Friday, citing court documents.

According to the paper, Coca-Cola has accused the Dutch brewer of designing a sale contract for Brasil Kirin with the intention of breaking the distribution contract the company had with Coca Cola. Heineken tried to break the contract in 2017, but Coca-Cola distributors began arbitration.

Last October, the arbitration decided Heineken must keep distributing Brasil Kirin’s products through 2022, keeping the dates in the original contract.

Heineken and Coca-Cola did not immediately comment on the matter.

Reporting by Carolina Mandl, editing by Louise Heavens

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up