|
|
Wahaha to sue three joint-venture directors from Danone (3) |
 |
+ |
- |
13:50, July 04, 2007 |
Wahaha said its contract with Danone was never approved by China''s trademark authority, which meant the transfer was invalid and the contract should be terminated.
Danone, which owns 51 percent stake of the 39 joint ventures, has accused Wahaha of setting up independent companies and sellingproducts identical to those sold by the joint ventures.
Danone is demanding a 51-percent stake in the non-joint venturecompanies, which Wahaha Group has rejected.
Danone filed its first lawsuit against Wahaha on May 9 in Stockholm.
On June 4, Danone filed a lawsuit in the Los Angeles-based Superior Court against Ever Maple Trading Ltd. and Hangzhou Hongsheng Beverage Co. Ltd, and two individuals related to the companies.
Ever Maple Trading Ltd. is the controlling shareholder of Hangzhou Hongsheng Beverage, which is the parent company of Hangzhou Wahaha Food and Beverage Sales Co., Danone''s joint venture partner in China.
Source: Xinhua
[1] [2] [3]
|
|
|
Comment
Tell A Friend
Print Format
Save Article