Britvic is poised for a flotation later this year, according to press reports. The Financial Mail has reported that international hotelier InterContinental Hotels Plc is preparing for a £700m (US$1.28 bln) float of its soft drinks unit in the autumn.

The Britvic float, previously scheduled for 2005, was brought forward following recent successful offerings by UK food and drinks companies, the newspaper said.

InterContinental owns 47.5% of Britvic, with PepsiCo Inc holding 5% and both Allied Domecq Plc and Whitbread Plc 23.75% each.

The company was expected to be valued at £600m to £700m and advisers would be selected over the next few weeks, the newspaper said.