LONDON - Britvic (LON:BVIC) plc, a leading British producer of soft drinks, has officially had its scheme of arrangement sanctioned by the court today, paving the way for Carlsberg (CSE:CARLb) UK Holdings Limited, a wholly owned subsidiary of Carlsberg A/S, to acquire the company. The approval by the court is the final step in a process that began with an agreement between Britvic and Carlsberg on July 8, 2024.
The transaction, structured as a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006, will become effective once the Court Order is registered with the Registrar of Companies, expected to occur on January 16, 2025. This acquisition follows the satisfaction of all regulatory conditions as previously announced on December 17, 2024.
As a result of the acquisition, trading in Britvic shares on the London Stock Exchange’s Main Market will be suspended starting at 7:30 a.m. on January 17, 2025. The listing of Britvic shares on the Official List is also expected to be suspended at the same time. Subject to the scheme's effectiveness, the de-listing of Britvic shares from the Official List and the cancellation of their admission to trading on the Main Market will take effect by 7:30 a.m. on January 20, 2025.
This announcement marks the culmination of a series of events that began with the initial acquisition agreement and continued through various shareholder and regulatory approvals. The transaction represents a significant development for both companies, with Britvic set to join the Carlsberg group of companies following the completion of the scheme.
The information for this article is based on a press release statement. All time references are to London time and defined terms used but not defined in this announcement have the meanings set out in the Scheme Document dated July 22, 2024.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.