Cadbury Schweppes is moving ever closer to selling off its European soft drinks business, according to German press reports. In a report in Boersen-Zeitung today (25 August), it was claimed that equity houses Carlyle Group, Lion Capital and Cinven Group are preparing bids for the business.

The sale price is estimated to be around €1.5bn, the report added.

Reports in the UK press earlier this month suggested that Cadbury Schweppes has hired investment bank Goldman Sachs to find a buyer for the unit.