C&C to toast £540m float

By Nick Goodway for MailOnline
Updated: 00:00 BST, 4 May 2004

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IRISH drinks company C&C is coming to the London and Dublin 株式市場s with a 株 valuation of around e800m(£540m).

It is the second major 申し込む／申し出ing from the にわか景気ing Irish economy in いっそう少なく than two months.

Eircom, the 直す／買収する，八百長をするd-line phone company, had a 高度に suc cessful and 類似の-sized e800m flotation on both markets last month and more are said to be in the pipeline.

私的な Irish 投資家s have been pumping money into London, 含むing the £750m 引き継ぎ／買収 of the Savoy group and another £1.35bn of 私的な money finding itself into the 所有物／資産／財産 market, おもに in the 資本／首都.

C&C, which was 以前 known as Cantrell & Cochrane, was 軍隊d to abandon its flotation almost two years ago when the London 株式市場 衝突，墜落d. Coincidentally, the Irish economy also went into 逆転する in the summer of 2002 with 消費者 信用／信任 急落（する），激減（する）ing.

Today, によれば Maurice Pratt, 長，指導者 (n)役員／(a)執行力のある of C&C, Irish drinkers are 支援する with a vengeance and the economy is にわか景気ing again.

He 追加するd: 'You never want to disappoint 投資家s, and with the 広大な／多数の／重要な 利益 of hindsight is was good thing we didn't come to the market then. What it showed was how resilient our brands are in the bad times and how they can grow in the good times.'

投資 bank HSBC recently 予測（する） that the Irish economy will grow by 5.5% this year and next, making it the strongest performer in the euro zone.

Pratt said: 'We are looking at underlying 利益（をあげる）s growth of 6.5% in the year which just ended and every 調印する of growth going 今後.

'Even the 禁止（する） on smoking in pubs has not 攻撃する，衝突する. There has been 99.9% complinace with the 禁止（する）, and although it's 早期に days we have seen no 調印するs of a 落ちる in 貿易（する）.'

C&C, which has a 範囲 of brands from Bulmers Cider to Frangelico liquer and Ballygowan water to Tayto crisps, was a てこ入れ／借入資本d buyout from 連合した Domecq in January 1999.

私的な 公正，普通株主権 支援者 BC Partners is reckoned to have turned an 初めの e750m 投資 into something 価値（がある） around e1.2bn today.

BC Partners will 持つ／拘留する on to a 37.6% 火刑／賭ける after the float and has undertaken not to sell for at least 180 days.

管理／経営 under Pratt will make e11m by selling 株 during the flotation but will keep a 火刑／賭ける of just under 5%.

銀行業者s Citigroup and Goldman Sachs 株 the float and 発表するd a price 範囲 of e2.26 to e2.74 a 株 today, valuing the company at between e723m and e877m.

Two years ago the 示すd price 範囲 before the float was pulled had been e2.60 to e3.60, although since then C&C has sold its Italian 商売／仕事 for some e150m.

About 176m 株 価値（がある） e440m will be 申し込む／申し出d for sale only to institutional 株主s.