The development will place Coca-Cola in direct competition with Monster Beverage.

In a statement Coca-Cola Co stated, an arbitration tribunal has informed it that it could go ahead with the sale of its energy drink under the terms of the contract with Monster Beverage Corp.

The development comes in the wake of Coca-Cola entering into an arbitration with Monster Beverage over the launch of Coca-Cola Energy, as it would put the company in direct competition with Monster and violate their initial agreement in 2015.

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Tags: 2015, arbitration tribunal, Coca-Cola, Coca-Cola Energy, direct competition, energy drink, initial agreement, Monster Beverage Corp, permission, sale, sell, violate