Whitbread PLC
09 December 2005
9 December 2005
Whitbread notes announcement of Britvic pricing statement and increase in the
Global Offer size
Whitbread PLC ('Whitbread') notes today's announcement from Britvic plc
('Britvic') regarding the offer price of 230 pence per Britvic share for its
initial public offering (the 'Global Offer').
In addition, the Global Offer has been increased in size such that Whitbread,
InterContinental Hotels Group ('IHG') and Pernod Ricard will now sell a total of
204 million ordinary shares of which Whitbread will sell 51 million shares,
representing its entire holding in Britvic.
At the announced price of 230 pence per share, Whitbread will receive gross
proceeds of approximately £117.3 million.
In the financial year to 3 March 2005, Whitbread accounted for its interest in
the Britvic business as an associate and reported (under UK GAAP) its share of
Britvic's operating profit before interest and tax as £17.4 million and its
share of Britvic's net assets as £58.6 million.
In addition to the proceeds of sale Whitbread received a special dividend of
£23.4 million from Britvic on 29 November 2005. This is in addition to the
special dividend of £44.9 million paid in May 2005.
As previously announced, Whitbread intends to return to shareholders up to £400m
of the proceeds from its ongoing programme of asset disposals, initially via an
on market share buyback programme.
Enquiries:
Whitbread PLC:
Investor Queries:
Christopher Rogers Tel: 01582 396335
Media Enquiries:
Andrew Honnor
Tulchan Tel: 020 7353 4200
Anna Glover
Whitbread Tel: 01582 844244
The securities mentioned herein have not been, and will not be, registered under
the US Securities Act of 1933 (the 'Securities Act'), and may not be offered or
sold in the United States (as such terms 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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