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Directors to net €11m from C&C float

Maurice Pratt - C&C chief executive
Maurice Pratt - C&C chief executive

Drinks and snack foods group C&C has given more details of its plans to float on the Dublin and London stock markets.

The shares will be priced at between €2.26 and €2.74, valuing the company at around €800m.

176 million shares will be sold, worth around €440m. Of  this management will share around €11m, while private equity firm BC Partners, which owns 92% of C&C, will receive €429m.

The directors will retain a 4.7% stake in C&C, while BC Partners will keep 37.6%.

Condition dealing in the shares is expected to start on May 14, with unconditional dealings starting on May 19.

C&C has also announced the appointment of five new non-executive directors, including United Drug chief executive Liam Fitzgerald and IAWS chairman Philip Lynch. The other new directors are John Burgess, Richard Holroyd and Breege O'Donoghue.