Cadbury extends Americas Beverages sale deadline
July 27, 2007
by Eric Schroeder
LONDON — "Extreme volatility" in recent days in leveraged debt markets has led Cadbury Schweppes P.L.C. to extend the sale timetable for its Americas Beverages business.
Cadbury said that while interest in the business "remains strong," an extension was necessary "to allow bidders to complete their proposals against a more stable debt financing market."
The deadline for the sale, first announced on March 15, had been scheduled for the beginning of next week, with at least two private equity groups expected to submit proposals. No word was given on how long the process would be delayed.