Cadbury Schweppes’ European beverages arm is expected to be sold for about £1.1bn next month to a private equity bidder. The owner of Orangina, Oasis and Schweppes has narrowed bidders down to three: Permira, PAI and a team comprising Blackstone and Lion Capital. They will submit second-round bids next week. A sale is likely to be agreed before Christmas. Financial Times 12/11/05 page 1 The Daily Telegraph 12/11/05 page 30 (Business Comment)