UK: Britvic shareholders back AG Barr merger
The merger is expected to close before the end of the month
At a general meeting yesterday (8 January), 99.86% of the votes cast were in favour of the deal to create one of Europe's biggest soft drinks company's, Britivc said. The partnership with Barr, whose shareholders also green lit the deal yesterday, is expected to close before the end of this month pending approval from the UK's Office of Fair Trading.
Barr and Britvic agreed in November on an all-share merger to form new company, Barr Britvic Soft Drinks. The new company is expected to have an annual turnover of about GBP1.5bn (US$2.4bn).
However, an AG Barr shareholder voiced concern over “interference in the south” in the wake of yesterday's vote, Scotland's The Herald newspaper reported. Alan Waddell said he hoped the company would retain its Scottish identity in the event of the merger with the larger England-based Britvic.
To see just-drinks' full coverage of AG Barr and Britvic's proposed merger, click here.
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