Cadbury plans to spin off US drinks division
Cadbury Schweppes has decided against selling its US beverage division, which includes the Dr. Pepper, 7Up, and Snapple brands, the AP reports. Instead it will spin off the division to its shareholders.
Cadbury said it would list the business as a separate company on the New York Stock Exchange through a share issue to existing shareholders. The company said it does not expect to complete the separation before the second quarter of 2008 and terms were not disclosed.
