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IN BRIEF: Fevertree launches share buyback to return Molson Coors cash

ALN

Fevertree Drinks PLC - London-based maker of carbonated mixers - Launches share buyback worth up to £71 million. The buyback will be run by Investec Bank PLC. It will start on Monday and be completed by September 30. The buyback was first announced late last month alongside a US distribution agreement with Molson Coors. As part of that deal, Molson Coors purchased an 8.5% stake in Fevertree for £71.0 million, and Fevertree said it would return that full amount to shareholders via a share buyback.

Current stock price: 735.00 pence

12-month change: down 30%

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