INDIA: Cadbury Schweppes offers to buy outstanding 49% in Cadbury India
Cadbury Schweppes Plc has announced that it is to acquire the outstanding 49% minority in its Indian subsidiary, Cadbury India Ltd.
In a statement Cadbury's said that subject the statutory approval the deal will be through a voluntary offer of 500 Rupees per share in cash. An offer, it said which values the minority at 8,749m Rupees.
John Sunderland, Cadbury Schweppes CEO said: "India is a key market for the Group and an important part of the Group's growth strategy.
"This transaction not only provides opportunities for value creation through closer integration of our Cadbury India business within the Group, but is consistent with our aim of owning 100% of our significant businesses around the world."
Cadbury India's sales and profit after tax for the year ended 31 December 2000 were £84m and £7m respectively.
Cadbury's anticipates the transaction to be completed by early March 2002.
Companies: Cadbury Schweppes
PepsiCo has refused to comment on reports linking the company with a bid for Cadbury Schweppes' soft drink business....
Napa Valley's Cosentino Signature Wineries plans to raise US$30m by listing on London's AIM market this month....
The European arm of drinks group Cadbury Schweppes is expected to be sold next month for around GBP1.1bn ($1.9bn), according to press reports....
UK off-licence retail group Unwins is planning to float its Phillips Newman subsidiary on the Aim stock market, and then plans to float itself on the Aim market, according to the Daily Telegraph....
UK-based soft drinks to sweets group Cadbury Schweppes has issued a trading update ahead of an investor seminar to be held in Dallas, Texas on 10 and 11 October....
Cadbury Schweppes is moving ever closer to selling off its European soft drinks business, according to German press reports....
Rumours are circling that Cadbury Schweppes' soft drinks business may be merged with Britvic....
Cadbury Schweppes has appointed a new director to its board....
- How to turn a domestic spirit into a global brand
- Mahou San Miguel - just the Facts
- Whatever happened to binge Britain? - comment
- A game of two halves for Remy Cointreau - Analysis
- Britvic's FY Performance by Region - Focus
- Beam Suntory to sell brandy & sherry to Emperador
- Former Diageo exec joins William Grant in LatAm
- Captain Morgan distillation trial queried by USVI
- This week in spirits & wine
- Sazerac sues Brown-Forman over Tennessee Fire
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Beer Market 2015-2019
- Global Wine Market to 2019 - Market Size, Development, and Forecasts