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Investing.com -- Remy Cointreau SA (EPA:RCOP) on Friday entered into a price undertaking agreement in China affecting its cognac products.
Under the agreement, certain cognac stakeholders impacted by the procedure have committed to comply with a minimum import price in China, with each party agreeing according to their own terms.
The French spirits group described this arrangement as a "significantly more favorable outcome" or "a substantially less punitive alternative" compared to other potential measures.
Remy Cointreau stated it is still waiting for additional details about the practical arrangements for implementing this agreement.
The company plans to update its annual guidance when it publishes its first-quarter results on July 25.
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