UK's Britvic Sets Share Price for IPO

29 November 2005

The UK's second biggest soft drinks maker Britvic has set a date and a price for its flotation on the London Stock Exchange, for "on or around December 9".

The company, whose brands include Pepsi and 7Up under exclusive licence from PepsiCo plus Robinsons and Tango, will have a market value of up to £537m ($921m; €785m).

Britvic's three main shareholders - Intercontinental Hotels, leisure group Whitbread and drinks giant Pernod Ricard - will sell up to 75% of their stakes in the company, but Pepsi has said it will retain its 5% stake.

Next year Britvic, which notches around £700m in sales in the UK, will take on the marketing of Pepsi's sports drink brand Gatorade and has first refusal on any new carbonated drinks developed by the US-headquartered giant.

Data sourced from Financial Times online; additional content by WARC staff