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FOOD & BEVERAGE | Staff Reporter, Singapore
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Asia Pacific Breweries contests summons by Jiangsu Dafuhao

APB claims the Summons is groundless and without merit.

This announcement is in relation to the announcements of the Company on 21 February 2012 and 30 March 2012 regarding the summons served on 
Heineken-APB (China) or HAPBC by Jiangsu Dafuhao Breweries Co, Ltd  or DFH.

Further to the Announcements, the Board of Directors of the Company wishes to announce DFH has applied for the Company and Asia Pacific Investments (APIPL), which is the majority shareholder of the Company and a joint venture company between the Heineken Group and Fraser and Neave, Limited, to be joined as co-defendants to the Summons and has served the Summons on the Company and APIPL.

As previously announced, the Company believes that the Summons is groundless and without merit. Like HAPBC, the Company intends to contest the Summons (including challenging the jurisdiction of the Nantong Intermediate People’s Court over the matters raised by DFH in the Summons). 

HAPBC owns a 49% stake in DFH with the remaining 51% stake owned by Nantong Fuhao Alcohol Industry Co., Ltd (“NAC”). HAPBC has already commenced arbitration proceedings against NAC at the China International Economic Trade Arbitration Commission (“CIETAC”) in Beijing.

As announced by the Company on 28 September 2012, the CIETAC Arbitration Tribunal has granted an interim award directing that NAC is to cooperate with HAPBC in its conduct of an audit on DFH for the financial years 2010 and 2011.

The Company will make further announcements as appropriate to keep shareholders informed of 
material developments in this matter.

 

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