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Last Updated: Monday, 14 November 2005, 08:13 GMT
Britvic unveils share float plan
Britvic drinks
Britvic sells more than 1.4bn litres of soft drinks a year
Britvic, the company behind soft drinks brands such as Tango, Robinsons and J2O, has unveiled plans to float its shares on the London Stock Exchange.

The float is expected to value Britvic - which also makes Pepsi and 7up under licence - at about 800m ($1.4bn).

The firm said former Railtrack chief Gerald Corbett would become its chairman when it lists on the market.

Britvic is the second-largest soft drinks seller in the UK, selling about 700m worth of drinks each year.

Owners to sell

The company said it hoped to unveil a price range for the float on 25 November, and its shares should begin trading in mid-December.

"We are delighted to be bringing Britvic, which has a strong track record, leading brands and a proven ability to innovate, to the market," said Britvic's managing director Paul Moody.

The flotation will see Britvic's three main shareholders - Intercontinental Hotels, Whitbread and Pernod Ricard - disposing of their stakes in the company.

Intercontinental owns 47.5% of Britvic while Whitbread has 23.75%. Pernod Ricard acquired a 23.75% stake in the firm when it bought Allied Domecq earlier this year.

The remaining 5% of the firm is held by PepsiCo, but PepsiCo is set to retain its shareholding.

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