Britvic floats

Britvic underwent a stock market flotation in 9 december,  which valued the company at £494m.

The offering represents 84.3% of the total capital.

Whitbread and Pernod Ricard, which each held a 23.75% stake in the company, have sold their entire holdings, while Britvic’s largest shareholder, InterContinental Hotels, has sold 77% of its interest and granted an over-allotment option that may see it sell off its entire 47.5% stake for a total of £235m. PepsiCo has retained its 5% stake.

The shareholders had planned to float Brivic, the UK ’s second largest soft drinks group after Coca-Cola, some time between 2005 and 2008 but moved earlier to take advantage of a rising market.