Cadbury Schweppes has remained tight-lipped over reports that the company has received considerable interest in the possible sale of its US drinks business.
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The maker of Dairy Milk and Halls announced in March that it intends to divide its confectionery and US drinks units. Cadbury said that it was considering the possibility of either a spin-off or auction of the US business.
According to reports in the UK press, the confectionery group has received as many as 12 expressions of interest in the sale. Citing unnamed sources, the Daily Telegraph said that two private equity firms are in the process of preparing bids valued at around GBP8bn (US$15.8bn) for the US business, which includes the Dr Pepper and Snapple brands.
While the company declined to comment on “market rumour and speculation”, a spokesperson for Cadbury told just-food: “The process of dividing the businesses is progressing well.”
Cadbury shares were up 1.93% at 10.20 am GMT, rising to 686.5 pence.
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