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Asahi Group Holdings Ltd Sues PEP And Unitas Over Independent Liquor Purchase-Reuters

Wednesday, 13 Feb 2013 07:30pm EST 

Reuters reported that Asahi Group Holdings Ltd is suing Pacific Equity Partners (PEP) and Unitas Capital Pte Ltd, (Unitas) alleging they inflated the earnings of the Independent Liquor business it acquired in 2011. Individual directors and investment funds controlled by the two private equity firms are also targeted by the legal action filed by Asahi Holdings Australia and Independent Liquor New Zealand, both Japanese registered subsidiaries of Asahi Group, in Australia's Federal Court. Asahi is seeking unspecified damages for losses after an internal investigation uncovered what the company claims was misleading and deceptive conduct. PEP did not immediately return calls seeking comment. Unitas could not immediately be reached. 

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