UZBEKISTAN: Coke slapped with US$100m claim - report
Coca-Cola is facing a claim for damages in Uzbekistan, according to press reports.
The Financial Times said earlier this week that the soft drinks company has been hit with an arbitration claim for over US$100m. The claim, issued by Mansur Maqsudi, alleges that Coke conspired with the Uzbeki government against Maqsudi in his position as a joint venture partner.
Maqsudi believes that Coke worked with the government to strip him of his majority stake in Coke's bottling facility in Tashkent after Maqsudi fell out of favour with the country's leader, Islam Karimov.
"This allegation is categorically false," Coke said. "Unequivocally, there was no collaboration, and we are confident this will be upheld in any court or arbitration proceedings."
Maqsudi, an American of Afghan descent, was married to the Karimov's daughter until they separated in 2001.
- Why consumers don't care about vodka's provenance
- Pernod Ricard's FY Performance by Region, Brand
- Japan follows in Scotch whisky's footsteps
- Brown-Forman's Q1 Performance by Region, Brand
- Pernod Ricard's FY fiscal-2015 - Preview
- Diageo launches glass Bulleit & Cola bottles
- Pernod Ricard "in line" after full-year results
- Pernod Ricard releases social medial guide
- Bruno Mars rum rolls out across US
- Brown-Forman CEO unfazed by FX headwinds
- Global gin insights - market data, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research