UK: Goldman Sachs in for Cadbury disposal - report
Rumours continue to circulate in the UK press about the potential sale by Cadbury Schweppes of its European soft drinks division.
The Sunday edition of the Independent newspaper has reported that Cadbury Schweppes has hired investment bank Goldman Sachs to find a buyer for the unit.
Estimates suggest a sale of the European unit will fetch GBP1BN.
The newspaper did not cite any soures.
Cadbury's European Beverages business carries the Schweppes brand and sells soft drinks and mineral waters in France, Germany and Spain.
Cadbury Schweppes last week reported a rise in sales and pre-tax profits for the half to 19 June, with the company's US beverage division gaining share on its rivals.
Overall beverages sales grew 4%, with the US beverages business posting operating profit up 4% on a 5% increase.
However, European beverages' operating profits declined 6% on a sales decline of 1%. The company said profits were hit by an increase in innovation and marketing and promotional investment behind core brands.
Cadbury-Schweppes has insisted that the disposal of its European soft drinks businesses is not indicative of a move away from soft drinks, but analysts see the group focusing increasingly on confectio...
Cadbury Schweppes has agreed to sell its European beverages business....
PepsiCo has refused to comment on reports linking the company with a bid for Cadbury Schweppes' soft drink business....
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-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 Americas brand Mott's has announced a new line of fortified beverages....
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