Carlsberg have said they’ve struck a deal with Pepsi to pave the way for a £3 billion takeover of Britvic.
US giant drinks firm PepsiCo have agreed to waive the change-of-control clause which was preventing the Danish brewing giant to takeover Britvic.
Pepsi told Carlsberg over the weekend they will not exercise the clause should there be an agreed takeover of Robinsons maker.
Carlsberg said, “Carlsberg confirms that it has reached agreement with PepsiCo whereby PepsiCo has agreed to waive the change-of-control clause in the bottling arrangements it has with Britvic.
“This waiver will come into effect should an acquisition of Britvic by Carlsberg, which has the recommendation of Britvic’s board, proceed to completion.”
Britvic is less happy about this as they have said this “significantly undervalues Britvic, and its current and future prospects,” adding, they will “consider any further proposal on its merits.”
The Danish Brewing giant said, “Carlsberg believes that the proposal represents a compelling opportunity for Britvic shareholders to realise their investment in full in cash at an attractive valuation.
“Carlsberg believes that the potential transaction would enable it to capture appealing long-term growth opportunities from Britvic’s comprehensive portfolio of leading brands in an attractive segment of the beverage market where Carlsberg already has a strong track record.”
Leave a Comment