By Andrew Starke

CCA’s group managing director Terry Davis has denied that the soft drinks giant is on the verge of ending its joint venture with brewer SABMiller, pending the latter mounting a takeover bid for the Foster’s group.

Reports last week said that CCA and SABMiller had reached an in-principle agreement to dissolve their partnership in Pacific Beverages.

However Davis dismissed the speculation and said its source was investment bankers looking to drum up new business.

“There is no change to the JV business. Full stop,” he told reporters this morning (Feb 23).

“We are very comfortable with the terms of the deal.”

CCA shares were trading at $11.69 at 2pm today, up from $11.37 seven days ago.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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