Coca-Cola has received approval to market its new trademark energy drink across the globe. The soft drinks giant and Monster Beverage Corp announced on Monday in a joint statement that the arbitration tribunal looking into whether Coca-Cola violated the terms of a 2015 agreement with Monster not to sell its energy drink as it would put the company in direct competition with Monster ruled that Coca-Cola can continue to sell and distribute Coca-Cola Energy, including in markets where it has already been launched and is free to launch the product in new markets globally.
Coca-Cola launched the energy drink in April as part of efforts to provide healthier alternatives to consumers who had grown weary of its fizzy soda.
The new energy drink contains caffeine from naturally derived sources, guarana extracts, B vitamins, and no taurine – a stimulant often found in energy drinks.
Coca-Cola said it would continue in its partnership with Monster Corp where it holds a nearly 19% stake.
Shares of Monster fell 3% before the opening bell at the New York Stock Exchange, while Coca-Cola’s shares rose marginally.
