AG Barr and Britvic shares mixed on merger news

<p>AG Barr and Britvic are set to merge, becoming one of the biggest drinks makers in Europe.</p>

AG Barr and Britvic shares are mixed on the London Stock Exchange (LSE) this morning (November 15th) following news the two drinks giants are merging.

The deal will create one of Europe's largest beverage companies and discussions on the collaboration have been on the table since September.

AG Barr is most famous for producing Irn Bru, while Britvic manufactures juices and the Tango range of fizzy pop.

The new combined company will be called Barr Britvic Soft Drinks and will have an annual sales turnover of upwards of £1.5 billion.

Its head office will be in Cumbernauld in Scotland, while the official headquarters will be located at Britvic's current centre of operations in England.

AG Barr boss Roger White said: "AG Barr and Britvic are a fantastic fit with complementary strengths and we will benefit from very significant synergies."

At 10:45 GMT on the LSE, Barr shares were down by 1.5 per cent to 444.00p and Britvic shares were up by 0.2 per cent to 388.10p

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