The Danish beer maker, Carlsberg A/S, announced on September 2 that it had learned through a press release issued by Chang Beverages Pte Ltd. that Chang Beverages has initiated arbitration proceedings against Carlsberg Breweries A/S. The proceedings will take place in London. According to the 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.

”As previously announced in Announcement to the Copenhagen Stock Exchange 9/2003, Carlsberg Breweries has terminated the joint
venture. This termination is maintained and Carlsberg Breweries rejects Chang Beverages' demand, which the court of arbitration must now consider,” Carlsberg said.

04 September, 2003