French drinks group Pernod Ricard has sold its remaining interest in the Orangina soft drinks business operated by its subsidiary, CFPO, for around €31m to Cadbury Schweppes.

Orangina has operations in the UK, Eastern Europe, Africa/Middle East, South America and Asia.

This transaction completes the disposal process in relation to Pernod Ricard's worldwide business interest in Orangina which commenced in 2001.

In 2003, the Orangina brand accounted for €12.4m of Pernod Ricard's net sales.