Whitbread PLC
14 November 2005
14 November 2005
Whitbread notes Britvic intention to float
Whitbread PLC ('Whitbread') notes today's announcement from Britvic plc
('Britvic') of its intention to proceed with an offer of ordinary shares to
institutional investors in the United Kingdom and elsewhere (the 'Offer').
Britvic is one of the two leading soft drinks businesses in Great Britain.
Whitbread has a 23.75% interest in Britannia Soft Drinks Limited ('BSD'), of
which Britvic plc will become the holding company. In the financial year to 3
March 2005, Whitbread accounted for BSD as an associate and reported (under UK
GAAP) its share of operating profit before interest and tax and net assets
relating to BSD as £17.4m and £58.6m respectively.
As a result of the Offer, Whitbread will dispose of all or part of its 23.75%
interest in BSD. A further announcement will be made when the final Offer price
and size, and resulting proceeds, have been determined.
Enquiries:
Whitbread PLC:
Investor Queries:
Christopher Rogers Tel: 01582 396335
Media Enquiries:
Andrew Honnor
Tulchan Tel: 0207 353 4200
The securities mentioned herein have not been, and will not be, registered under
the U.S. Securities Act of 1933 (the 'Securities Act'), and may not be offered
or sold in the United States (as such term is defined in Regulation S under the
Securities Act) unless they are registered under the Securities Act or pursuant
to an exemption from registration
This information is provided by RNS
The company news service from the London Stock Exchange
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