Cadbury Schweppes put the drinks operation behind Oasis and Orangina up for sale yesterday after its growth lagged behind other parts of the business.
The group is inviting offers for its Europe Beverages division, which analysts think could be worth as much as £1.1bn.
The move follows a strategic review and will enable Cadbury to focus on its confectionery business, which saw a rise in sales of seven per cent in the first half of this year, and its drinks businesses elsewhere in the world.
Disposal of Europe Beverages, which also makes the Spanish drink La Casera and the Schweppes range of mixers, will enable the company to cut its debt, which stood at £4.3bn at the end of June.
Although a disposal will mean the company will no longer sell Schweppes-branded products in Europe, a spokesman said there were no plans to change its corporate name because it still markets the drinks in countries including the US and Australia.
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