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Drinks

Cider Maker C&C To End Irish Listing, Join London's FTSE

Irish cider and beer maker C&C Group is to discontinue its Irish stock market listing and switch its financial reporting from euros to sterling from October 7, the company announced on Tuesday.

The company, whose brands include Bulmers and Magners cider and Tennants lager, said it will seek admission to London's FTSE UK Index Series and hopes to be included on the FTSE All-Share Index and the FTSE 250 later this year.

C&C, whose shares are already listed on London's FCA Official List, will cancel its listing on the Euronext Dublin exchange.

Following the acquisition of British drinks distributors Matthew Clark and Bibendum in 2018, a majority of the group’s revenues, earnings and activities are now in the United Kingdom, C&C said in a statement.

The majority of the company's shares are now held in the United Kingdom and North America, it added.

'The potential benefits of C&C being included in the FTSE UK Index Series which the Board believes is likely over time to increase awareness of C&C among the investor community,' the company said.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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