Deals
Deutsche Bank Weetabix Suit Shows How Brexit Affects Breakfast
- Bright Food sold stake in cereal company, triggering fight
- Lawyers say Brexit triggered surge in currency swap disputes
Photographer: Jason Alden/Bloomberg
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In London’s hipster Cereal Killer Cafe, a bowl of mini Weetabix costs more than four pounds ($5.30). But in a courthouse across town, the breakfast cereal could end up costing Deutsche Bank AG a lot more: $118 million.
Bright Food Hong Kong Ltd. sued the lender in Shanghai, accusing Deutsche Bank of misleading it into buying British pound-to-U.S. dollar currency swaps linked to a stake in Weetabix Ltd. The bank filed in May in London to switch the case to British courts.