Carlsberg’s ex-joint venture partner in Asia Chang Beverages Pte Ltd has initiated arbitration proceedings against Carlsberg Breweries A/S, the Danish brewer said it had learnt yesterday.
The proceedings will take place in London. According to a press release, Chang Beverages demands that Carlsberg Asia continue as a joint venture and claims damages. No amount is specified in Chang’s claim for damages.
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Carlsberg Breweries terminated the joint venture at the beginning of August. It said at the time that the character of the companies which Chang Beverages was to transfer to Carlsberg Asia did not correspond with what was agreed upon and that the value of these are disproportionate to the assets which Carlsberg Breweries has transferred to Carlsberg Asia.
“This termination is maintained and Carlsberg Breweries rejects Chang Beverages’ demand, which the court of arbitration must now consider,” Carlsberg said yesterday.
