The sale of C&C Group's soft drinks and bottled water division to Britvic has been approved by the Competition Authority and is expected to be completed by the end of the month.
In a statement released to the stock exchange this morning C&C said the €249.2 million deal which will see the iconic Ballygowan water brand leave Irish ownership has been approved.
C&C had said it has the deal will allow it to concentrate on maximising profits in its higher-margin alcoholic drinks business.
However, poor cider sales due to the bad summer weather and tough competition has hit C&C shares hard which are now trading at around €6, down from a year high of €14.03 after a profit
warning for the six months ending August 31st
