 Britvic sells more than 1.4bn litres of soft drinks a year |
Soft drinks company Britvic is set to unveil plans to make its debut on the London market, reports suggest. It will also name former Railtrack chief Gerald Corbett as chairman when it reveals its plans on Monday, according to the Mail on Sunday.
The float, planned for December, could see the firm valued at �800m, the report adds.
The move should end a stalemate between investors Allied Domecq, Whitbread, Intercontinental Hotels and PepsiCo.
In 2001, PepsiCo - which holds a 5% share of the firm - vetoed plans to sell the firm to another drinks company amid fears a competitor would gain access to sensitive information about its European operations.
Stake sell-off
Following the sale, PepsiCo is expected to hold onto its stake while the other three firms are expected to reduce their holdings as they have been keen to exit the business for some time.
Allied - now owned by French drinks firm Pernod Ricard - is keen to focus on wines and spirits and Whitbread is under pressure to focus on its core operations.
Meanwhile its largest shareholder InterContinental no longer sees Britvic as a significant part of its business.
UK-based Britvic - whose brands include Purdey's, Robinsons, R Whites lemonade and Tango - was unavailable for comment on the report.
Recent speculation had suggested that the drinks firm could be sold to private equity buyers with KKR understood to have had a look at the firm.
Carlyle Group was also at the centre of speculation it could make a bid as it is understood to be on the lookout for consumer firms and recently decided not to bid for the European drinks arm of Cadbury Schweppes.
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