Britvic plc Competition Commission Provisional Findings (7230G)
11 Juni 2013 - 8:04AM
UK Regulatory
TIDMBVIC
RNS Number : 7230G
Britvic plc
10 June 2013
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN
PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION.
For Immediate Release
11 June 2013
Britvic plc
Competition Commission Provisional Findings
Britvic plc ("Britvic") notes today's announcement from the
Competition Commission ("CC") that it has provisionally approved
the possible merger between Britvic and A.G. BARR p.l.c. The CC's
provisional decision is that the possible merger is not expected to
result in a substantial lessening of competition.
Britvic will continue to cooperate with the CC throughout the
remainder of the inquiry.The CC is expected to announce its final
decision by the end of July 2013.
The full details of the CC's provisional findings are available
on the CC's website at:
http://www.competition-commission.org.uk/our-work/directory-of-all-inquiries/ag-barr-britvic
Britvic's Chairman, Gerald Corbett, commented, "We welcome the
Competition Commission's provisional findings and await their final
conclusions by the end of July.
In the meantime, as we enter our busiest time of the year,
Britvic's management team, under our new Chief Executive, is
focused on delivering its new strategy and continuing the trading
momentum established in the first half of the year. This new plan,
underpinned by GBP30m of cost savings, a proportion of which is to
be invested in international growth, has now been communicated to
our shareholders and has been well received. We are totally focused
on the execution of this and delivering on the vision of a growing,
international and increasingly profitable Britvic.
Our company is in a different place to last summer when the
terms of the merger were agreed. The cost savings from merging are
less, we are performing better, we have new management and we have
a new strategy to deliver good growth internationally as well as in
the UK. These are among the issues the board will reflect on in
August once the Competition Commission's conclusions are known in
order to ensure that it acts in the best interests of Britvic's
shareholders."
Enquiries
Investors:
Rupen Shah/Steve Nightingale +44 (0)1442 284330
Media:
Susan Turner/Marisa Fitch +44 (0)7808 098579 / +44 (0)7808 098292
Mike Smith/Nick Cosgrove (Brunswick) +44 (0)20 7404 5959
Important Information
A copy of this announcement will be made available, free of
charge, subject to certain restrictions relating to persons
resident in restricted jurisdictions, on Britvic's website at
http://ir.britvic.comby no later than noon (London time) on the day
following the date of this announcement. For the avoidance of
doubt, the contents of those websites are not incorporated into and
do not form part of this announcement.
You may request a hard copy of this announcement by contacting
the Company Secretary of Britvic at
company.secretariat@britvic.co.uk(or on +44(0)1442 284411) or by
writing to Britvic plc, Breakspear Park, Breakspear Way, Hemel
Hempstead, HP2 4TZ. You may also request that all future documents,
announcements and information to be sent to you in relation to the
possible merger should be in hard copy form.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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