Cadbury Schweppes Reveals Demerger Details
In March 2007, Cadbury Schweppes plc announced that it intended to separate its confectionery and Americas Beverages businesses. In October 2007, it confirmed that the intended separation would take place by way of a demerger, after which the businesses would operate as independent separately listed companies. This week, Cadbury Schweppes revealed that by mid-May 2008, Cadbury Schweppes will no longer be a listed company, subject to legal and shareowner approvals and satisfaction of financing conditions. Shareowner approvals to effect the demerger will be sought at a court meeting and a general meeting of Cadbury Schweppes which will be held on 11 April, 2008. Futhermore, Dr Pepper Snapple Group Inc. (DPSG) has signed credit agreements and is confirming investment grade capital structures for both businesses. These credit agreements are subject to certain conditions, many of which are expected to be satisfied by the date of the shareowner meeting on April 11. The following is a summary of key dates associated with the demerger. All dates are indicative only and may be subject to change.
March 19 - Cadbury Schweppes Annual Report 2007 and Shareholder Circular sent to shareowners.
March 19- Cadbury plc Prospectus posted on Cadbury Schweppes' website
March 20 - Third amendment of Form 10 filed with SEC
April 11 - Court Meeting, GM and AGM
April 11 - Interim Management Statement
May 1 - Record and ex-dividend date for 2007 final dividend
May 2 - Listing of Cadbury plc ordinary shares on the London Stock Exchange
May 7 - Listing of DPSG shares on the New York Stock Exchange
May 16 - Payment of Cadbury Schweppes 2007 final dividend
