Cadbury Schweppes plc and Pernod Ricard SA today confirmed that they are near to agreement on the acquisition of Pernod Ricard's soft drinks brands and businesses in Continental Europe, North America and Australia for € 700 million (£419 million). The proposed transaction, which primarily embraces the Orangina, Pampryl, Champomy and Yoo-Hoo brands and associated businesses, would be conditional upon regulatory approval being obtained and would be signed once the process of consultation with the Orangina-Pampryl Works Council, beginning today, has been completed.