However, the potential for growth and value creation is greater in the group's other operations and therefore we believe it is in the best interests of our shareowners to investigate a sale of the business.

I'm delighted that within such a short time we have achieved a firm offer for Europe Beverages at a price which reflects the quality of its brands and the strength of its management team.

As painful as these changes may be, Dr Pepper/Seven Up cannot afford a 'business as usual' attitude given our mission to manage for value,

Following completion of a deal, we will be able to focus on our faster growing confectionery and other beverage businesses.

Europe beverages has a great portfolio of brands,

Europe Beverages has a great portfolio of brands, a talented management team and strong routes to market.

The acquisition is strategically consistent, financially attractive and value enhancing.

Our businesses share a passion for quality products and ethical values, so this is a very natural fit.

Revenue growth at 6.0 is the best the group has seen in over a decade and shows that our strategy is delivering exciting products for consumers and strong results for our shareowners.

The potential for growth and value creation is greater in the group's other operations, and therefore we believe it is in the best interests of our shareowners to investigate a sale of the business,