9th Dec 2005 07:01
InterContinental Hotels Group PLC09 December 2005 9 December 2005 INTERCONTINENTAL HOTELS GROUP PLC ANNOUNCEMENT OF BRITVIC IPO OFFER PRICE InterContinental Hotels Group PLC ("IHG") today announces the pricing of theinitial public offering of Britvic plc. IHG will sell approximately 79 millionBritvic shares at an offer price of 230p per Britvic share equivalent to totalproceeds (before deducting any commissions or expenses) of approximately £182m.This represents approximately 77% of IHG's holding in Britvic plc. IHG has alsogranted an over-allotment option over a further 23 million Britvic shares, whichif exercised in full, means it would sell 100% of its holding in Britvicresulting in total proceeds of approximately £235m (before deducting anycommissions or expenses). If the over-allotment option is not fully exercised, IHG will continue to holdup to 23 million shares in Britvic. The total value of IHG's stake in Britvicbased on the above offer price and including special dividends received isapproximately £371m. Andrew Cosslett, Chief Executive, InterContinental Hotels Group, said: "The disposal of our shares in Britvic is a continuation of InterContinentalHotels Group's strategy of focusing on being a global leader in franchising andmanaging hotels. We wish Britvic the very best as a stand-alone company." For further information, please contact: Investor Relations (Gavin Flynn): +44 (0) 1753 410 176 +44 (0) 7808 098 972Media Affairs (Leslie McGibbon): +44 (0) 1753 410 425 +44 (0) 7808 094 471 Note: The Britvic Shares have not been registered under the US Securities Act of1933, as amended, and may not be offered or sold in the United States absentregistration or an exemption from the registration requirements of such Act.There will be no public offering in the United States. Note to Editors: InterContinental Hotels Group PLC of the United Kingdom (LON:IHG, NYSE:IHG(ADRs)) is the world's largest hotel group by number of rooms. InterContinentalHotels Group owns, manages, leases or franchises, through various subsidiaries,almost 3,600 hotels and 539,000 guest rooms in nearly 100 countries andterritories around the world. The Group owns a portfolio of well recognised andrespected hotel brands including InterContinental(R) Hotels & Resorts, CrownePlaza(R) Hotels & Resorts, Holiday Inn(R) Hotels and Resorts, Holiday InnExpress(R), Staybridge Suites(R), Candlewood Suites(R) and Hotel IndigoTM, andalso manages the world's largest hotel loyalty programme, Priority Club(R)Rewards, with over 27 million members worldwide. In addition to this,InterContinental Hotels Group has a 47.5% interest in Britvic, one of the twoleading manufacturers of soft drinks, by value and volume, in Great Britain. InterContinental Hotels Group offers information and online reservations for allits hotel brands at www.ichotelsgroup.com and information for the Priority ClubRewards programme at www.priorityclub.com. For the latest news from InterContinental Hotels Group, visit our online PressOffice at www.ihgplc.com/media. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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