Drinks arm sale timetable extended
Plano, Texas: Cadbury Schweppes has admitted the sale process of its US drinks arm has been extended because of volatile global debt markets. The confectionery giant announced in March this year it was planning to separate its confectionery and Americas beverages businesses and said last month it would sell Americas Beverages. "The sale process is ongoing and interest remains strong," the company said. "However, the leveraged debt markets have experienced extreme volatility in recent days. As a result, a decision has been taken to extend the sale timetable to allow bidders to complete their proposals against a more stable debt financing market."