Coca-Cola Enterprises Inc. has reached a tentative settlement of US$47.5m over its 1999 product recall in Belgium.
In its quarterly report filed with the Securities and Exchange Commission, Coke said that agreement was reached with its insurance carriers on 30 September.
Go deeper with GlobalData
Following the product recall in 1999, Coke filed a lawsuit against two of its insurers to recover losses incurred.
According to the agreement, the company will receive the settlement amount on the execution of a final settlement in exchange for a release of its claims against the insurers, although the report did not identify who the insurers are.
The company expects the settlement to occur in the fourth quarter, and does not expect any additional recoveries associated with the recall.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
