Coca-Cola Enterprises Inc. has received US$48.3m from the settlement of a price-fixing lawsuit against several major corn processors.

The company made the announcement in a filing with the US Securities and Exchange Commission yesterday (7 July).

The payout, which represents around 90% of the anticipated settlement, will be recorded as a reduction in cost of sales in the second quarter of 2005. The remainder is expected to be received later this year or early in 2006.

The settlement stems from a class action against corn syrup processors, including Archer Daniels Midland Co. and Cargill Inc., regarding the fixing of prices for high-fructose corn syrup used in the production of soft drinks.