January 24, 2020 / 2:41 PM / 23 days ago

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

FILE PHOTO: Heineken logo is seen at the company's building in Sao Paulo, Brazil April 30, 2019. REUTERS/Amanda Perobelli

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below