UK: Britvic to float in autumn - report
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.
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Cautious optimism is probably the best way to describe today's press reaction to Pernod's friendly bid for Allied Domecq....
Spirits firm Allied Domecq has agreed to a takeover bid from smaller rival Pernod Ricard, subject to agreement from Allied shareholders....
Allied Domecq last night accepted Pernod Ricard's offer to buy the UK-based drinks giant....
Allied Domecq today delivered a 7% increase in first half group profits before tax to £285m. Earnings per share were up 7% to 19.2p, turnover that was flat at £1,700m....
Drinks producer and distributor Todhunter International has said that its controlling shareholder, CL Financial, is interested in acquiring some of the brands of Allied Domecq that may become availabl...
Pernod Ricard has had its rating raised....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
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