[Australia] Cadbury To Sell Schweppes Beverage Business In Australia To Asahi Breweries

Cadbury has entered into a conditional agreement with Asahi Breweries for the sale of the Schweppes Beverages business in Australia for a total consideration in cash of around £550M. The agreement with Asahi is subject to normal regulatory and other closing conditions. There is no financing condition. In addition, the agreement is subject to a right of negotiation granted to The Coca-Cola Company (TCCC) in 1999, which has the right to negotiate with Cadbury regarding a potential acquisition of the business, subject to a time limit of March 2009. Cadbury intends to focus its attentions solely on growing its chocolate, gum and candy portfolio.