British brewer Scottish & Newcastle has submitted a detailed claim to an arbitration court to secure control of Russian joint venture BBH in a bitter row with co-owner Carlsberg.
S&N said in a statement it laid the claim with the Arbitral Tribunal in Stockholm arising from what it argues were breaches by Carlsberg of the BBH shareholders' agreement. In response, Carlsberg issued a separate statement to reject S&N's claim.
But S&N said it was confident it would be successful and that it would win the right to acquire Carlsberg's 50% share in BBH at 'fair market value'. A decision on the claim is due by July 3, it added.
S&N charged that Carlsberg had misused confidential information and breached its duty of loyalty and other provisions in the agreement.
Baltic Beverages Holding, which makes Russia's Baltika beer, has been a 50/50 joint venture since 2002. Scottish & Newcastle, the maker of Foster's lager and Strongbow cider, last year rejected a hostile takeover bid from Carlsberg and Heineken worth £7.3 billion (€10.2 billion).
