LONDON - Britvic (LON:BVIC) PLC, a leading British producer of soft drinks, has announced the cancellation of its shares from trading on the London Stock Exchange (LON:LSEG) as of today. The delisting follows the recent court approval of a scheme of arrangement involving Britvic and Carlsberg (CSE:CARLb) A/S.
The formal cancellation of Britvic's shares from the Official List and the cessation of trading on the London Stock Exchange's main market took effect from 7:30 a.m. London time today, according to a statement from the company. This action is in line with previous announcements made earlier in the month regarding the court-sanctioned arrangement.
Britvic had disclosed details of the scheme in a document dated July 22, 2024, which outlined the terms and procedures for the arrangement. The delisting marks a significant change in Britvic's capital structure and its relationship with the public market.
The Financial Conduct Authority granted the cancellation following an application by Britvic, marking the end of Britvic shares' availability for trading to the general public on this major financial platform.
The company has been advised by several financial and legal institutions throughout this process, including Morgan Stanley & Co (NYSE:MS). International plc, Europa Partners Limited, and J.P. Morgan Securities plc, which have acted as financial advisers. Legal advice was provided by Linklaters LLP.
Investors and interested parties can find more information regarding the cancellation and the scheme of arrangement on Britvic's website, with the stipulation that the website's contents are not part of the official announcement.
This move comes as part of a broader acquisition strategy, although the specifics of the arrangement between Britvic and Carlsberg have not been elaborated on in this announcement.
The information in this article is based on a press release statement from Britvic PLC.
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