LONDON – Britvic (LON:) PLC, the UK’s leading soft drinks producer, has announced the withdrawal of its shares from trading on London Stock Exchange (LON:) from today. The delisting follows recent court approval of a scheme of arrangement involving Britvic and Carlsberg (CSE:) A/S.
The formal cancellation of Britvic’s shares from the Official List and the cessation of trading on the main market of the London Stock Exchange took effect today at 7:30 a.m. London time, according to the company’s announcement. This action is consistent with previous announcements made earlier this month regarding a court-approved settlement.
Britvic disclosed details of the scheme in a document dated July 22, 2024, which set out the terms and procedures for the arrangement. Delisting marks a significant change in Britvic’s capital structure and its relationship with the public market.
The Financial Conduct Authority approved the cancellation following a request from Britvic, marking the end of the availability of Britvic shares for trading to the general public on this major financial platform.
The company was advised during this process by several financial and legal institutions, including Morgan Stanley & Co (NYSE:). International plc, Europa Partners Limited and JP Morgan Securities plc, which acted as financial advisors. Legal advice was provided by Linklaters LLP.
Investors and interested parties can find more information about the cancellation and the arrangement scheme on Britvic’s website, with a note that the content of the website is not part of the official announcement.
The move comes as part of a broader acquisition strategy, although the specifics of the arrangement between Britvic and Carlsberg were not elaborated in this announcement.
The information in this article is based on a press release from Britvic PLC.
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