Cadbury Chairman: We're Committed To Coke

Dominic Cadbury, chairman of the UK confectionery and soft drinks group Cadbury Schweppes PLC, said in a May 6 speech that Cadbury's beverages operations are performing well so far in 1999, although some confectionery markets experienced a "slightly slower" start to the year. Cadbury also said that Cadbury Schweppes and Coca-Cola remained committed to their agreement for Cadbury to sell most of its beverage brands to Coca-Cola, despite the complex regulatory issues involved. He said the Coca-Cola transaction is subject to regulatory clearance in a number of markets, which will take some months to conclude. "We have already received clearance in five European countries out of the 20 or so worldwide in which approval is required: In the others, discussions continue. This is a complex transaction in over 120-plus countries, which we did not expect to be without difficulty but both we and Coca-Cola remain committed to completing the transaction."

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