A U.S. company (“PepsiCo”) entered into an “exclusive bottling appointment” (“EBA”) with an arm’s-length Australian bottling company (“SAPL”). PepsiCo agreed in the EBA to sell, or cause a related entity to sell, beverage concentrate to SAPL for bottling and sale, and granted SAPL the right to use the Pepsi and Mountain Dew trademarks in this regard. A Singapore company in the PepsiCo group produced the concentrate, and sold it (at a 0.05% mark-up) to an Australian company i...
