An Amsterdam court ordered Heineken and its Greek subsidiary, Athenian Brewery, to pay Macedonian Thrace Brewery (MTB) €111.224 million in a case over competition in Greece’s beer market.
The judgment makes both companies jointly and severally responsible for the award. Of the total, €43.337 million is damages and €67.887 million is interest calculated through Oct. 1, 2026. The €43.337 million damages amount will accrue Greek litigation interest from Oct. 1, 2026, until it is paid. Separately, the court set Oxera’s economic-analysis fee at €800,000; Greek-law interest applies to 67% of Oxera’s invoices, running from each invoice date. Legal costs were set at €40,916.31.
The award follows Decision 590/2014 by the Hellenic Competition Commission (HCC), which found that Athenian Brewery used exclusivity arrangements and financial incentives connected to restrictions on rival beer supplies. The HCC said the measures constrained competition in beer distribution and supply. The case covered conduct from September 1998 to September 2014, and the commission’s finding underpinned a civil damages claim by MTB.
Interest makes up more of the award than the damages principal. The court said its calculation reflected when the harm occurred and rejected the defendants’ objection that the amount had become excessive. The Amsterdam award compensates the rival brewer; it is separate from the HCC’s fine against Athenian Brewery.
An Athens administrative appeals court reduced the original €31.45 million fine to €26.73 million in 2017. Before the Amsterdam court assessed damages, the dispute over Dutch jurisdiction reached the Court of Justice of the European Union in 2025 and the Dutch Supreme Court in 2026.
MTB said it began its claim in 2017. MTB Director of Business Development Demetri Chriss said, “Justice has been served.” Heineken disagreed with the Amsterdam court’s reasoning and plans to appeal, Reuters reported. Reuters also reported that the brewer challenged the court’s assumptions about MTB’s hypothetical sales, prices and profitability.
