The owner of Pepsi may be about to bid for the European drinks operation of Cadbury Schweppes.
US soft drinks company PepsiCo is understood to have asked for information on the unit that makes Oasis and Orangina ahead of the first round of bidding next month.
According to a London newspaper, PepsiCo may face competition from more than a dozen buyout firms on both sides of the Atlantic in one of the autumn's most hotly-contested auctions.
Among the UK private equity houses believed to be interested in the £1.1bn-valued business are Apax Partners, Permira, CVC Capital and BC Partners.
Cadbury put its Europe Beverages division up for sale at the start of this month.
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