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April 7, 2008

UK: Cadbury drinks demerger put to the vote

Cadbury Schweppes shareholders will vote on whether or not to demerge its US drinks business this week.

Cadbury Schweppes shareholders will vote on whether or not to demerge its US drinks business this week.

After prolonged pressure from activist investors last year, the UK confectionery giant decided to sell the business, which includes the Dr Pepper, 7Up and Snapple brands.

However, it was forced to reverse this pronouncement after difficult economic conditions and the so-called “credit crunch” made it difficult for potential suitors to raise finance.

Cadbury is now looking at demerging the business through a floatation.

“Shareholders will vote on Friday (11 April) over whether to float our drinks arm on the New York stock exchange,” a spokesperson for the company told just-food. 

If the floatation goes ahead, shares would start trading on 7 May.

The remaining Cadbury operation would be the world’s largest confectionery business.

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