Asahi, PE firms set for legal battle over Independent Liquor sale - update
Japanese beverage giant Asahi has taken legal action against private equity firms Pacific Equity Partners (PEP) and Unitas Capital over its acquisition of New Zealand firm Independent Liquor in 2011 for NZ$1.5 billion ($1.5 billion).
Asahi alleges that PEP and Unitas inflated the earnings of Independent Liquor New Zealand. Independent Liquor and Asahi Holdings Australia, Japanese-registered subsidiaries of Asahi Group, are seeking...
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