UK: Cadbury Schweppes denies demerger speculation

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Cadbury Schweppes has denied that it has chosen to demerge its US drinks business as opposed to selling it outright. The denial follows a report in a UK newspaper today (15 August) that the company has selected a demerger of the unit, having concluded that private equity will struggle to raise the required funds.

The Times said in the report that senior executives at Cadbury met last week and have told bankers to prepare a demerger of the drinks unit before the end of August.

But, speaking to just-drinks today, a spokesperson for Cadbury denied that any decision had been taken. "We selected a dual-track approach in March," the spokesperson said. "We will continue to do so." The spokesperson did not give a timescale for when a decision would be taken, however.

Last month, Cadbury said it has delayed the sale process for the drinks business in the US, citing "extreme volatility" in the global debt markets. In June, the company had said that a sale was most likely in the coming months.

Sectors: Soft drinks, Water

Companies: Cadbury

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