Holding(s) in Company

RNS Number : 2590P

Britvic plc

04 June 2015

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESⁱ


1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ⁱⁱ					Britvic Plc
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights									X
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation: ⁱⁱⁱ				TIAA-CREF Investment Management, LLC on behalf of the accounts referred to in Exhibit A Teachers Advisors, Inc. on behalf of the funds referred to in Exhibit A Nuveen Investments, Inc. on behalf of the entities referred to in Exhibit A
4. Full name of shareholder(s) (if different from 3.):^iv				See Number 3
5. Date of the transaction and date on which the threshold is crossed or reached: ^v				1 June 2015
6. Date on which issuer notified:				3 June 2015
7. Threshold(s) that is/are crossed or reached: ^{vi, vii}				6%
8. Notified details:
A: Voting rights attached to shares ^{viii, ix}
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights	Number of shares		Number of voting rights		% of voting rights ^x
			Direct		Direct ^xi	Indirect ^xii	Direct	Indirect
GB00B0N8QD54	13,600,907	13,600,907	13,700,907		13,700,907	0	5.516%	0%

US1111901047 (ADRs in relation to Ordinary Shares with ISIN GB00B0N8QD54)	606,900	1,213,800	606,900		1,213,800	0	0.489%	0%


B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument		Expiration date ^xiii		Exercise/ Conversion Period ^xiv			Number of voting rights that may be acquired if the instrument is exercised/ converted.		% of voting rights
N/A		N/A		N/A			N/A		N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}
Resulting situation after the triggering transaction
Type of financial instrument	Exercise price		Expiration date ^xvii		Exercise/ Conversion period ^xviii	Number of voting rights instrument refers to		% of voting rights ^{xix, xx}
N/A	N/A		N/A		N/A	N/A		Nominal		Delta
								N/A		N/A

Total (A+B+C)
Number of voting rights						Percentage of voting rights
14,914,707						6.004%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: ^xxi
On June 1, 2015, the College Retirement Equities Fund ("CREF") purchased 100,000 shares of Britvic Plc, bringing CREF's holdings to 11,758,546 shares in Britvic Plc. CREF owns these shares through two of its investment accounts, the Stock Account and the Global Equities Account. It is our understanding there were 248,400,822 total voting shares in Britvic Plc that were outstanding on June 1, 2015, bringing CREF's total ownership in Britvic Plc to 4.734%. CREF is a U.S.-based SEC registered investment company that is managed by TIAA-CREF Investment Management, LLC ("TCIM"), an SEC registered investment adviser. Additionally, certain affiliates of CREF own 1,942,361 shares of Britvic Plc. 1,934,936 of these shares are owned by the TIAA-CREF Funds and the TIAA-CREF Life Funds, each of which is a U.S.-based SEC registered investment company that is managed by Teachers Advisors, Inc. ("TAI"), an SEC registered investment adviser. TAI is affiliated with TCIM and both are indirect, wholly-owned subsidiaries of Teachers Insurance and Annuity Association of America ("TIAA"), a New York insurance company. Nuveen Investments, Inc. (NII) owns an additional 7,425 ordinary shares and 606,900 ADRs correlating to 1,213,800 ordinary shares in Britvic Plc (We note that one ADR equals two ordinary shares). The combined TIAA-Nuveen enterprise now has aggregated holdings of 14,914,707 shares or 6.004% of the issued and outstanding voting shares in Britvic Plc. Each of TCIM, TAI and NII are aggregating their holdings in Britvic Plc following the closing of the Acquisition as required by current FCA Disclosure and Transparency Rules. However, each of TCIM, TAI and Nuveen separately and independently vote all proxies for shares held in Britvic Plc. (See Exhibit A)
Proxy Voting:
10. Name of the proxy holder:		TIAA-CREF Investment Management, LLC / Teachers Advisors, Inc. / Nuveen Investments, Inc.
11. Number of voting rights proxy holder will cease to hold:		N/A
12. Date on which proxy holder will cease to hold voting rights:		N/A
13. Additional information:	None
14. Contact name:	Jonathan Adelman, General Counsel (Interim)
15. Contact telephone number:	+44 (0)1442 284411

EXHIBIT A

TIAA-CREF

Summary of Holdings of Britvic PLC

Between May 29, 2015 - June 1, 2015

ORDINARY (GB00B0N8QD54)

	TIAA-CREF INVESTMENT MANAGEMENT LLC - COLLEGE RETIREMENT EQUITIES FUND ("CREF")				TEACHERS ADVISORS, INC. ("TAI")				NUVEEN INVESTMENTS, INC ("NII")			AGGREGATE HOLDING
	Global Equities Account	Stock Account	Total CREF Holdings	Total CREF %	TIAA-CREF Growth and Income Fund	TIAA-CREF Life Growth and Income Fund	Total Mutual Funds Holdings	Total Mutual Funds %	Nuveen Investments, Inc	Total Nuveen	Total Nuveen %	Total Holdings	Total %
Holdings as of May 29, 2015	4,915,677	6,742,869	11,658,546	4.693%	1,877,057	57,879	1,934,936	0.779%	7,425	7,425	0.003%	13,600,907	5.475%
Transactions as of June 1, 2015	-	100,000	100,000	0.040%	-	-	-	0.000%	-	-	0.000%	100,000	0.040%
Holdings as of June 1, 2015	4,915,677	6,842,869	11,758,546	4.734%	1,877,057	57,879	1,934,936	0.779%	7,425	7,425	0.003%	13,700,907	5.516%

ADR (US1111901047)

	NUVEEN INVESTMENTS, INC
	Nuveen Investments, Inc	Total Nuveen	Converted 1 ADR=2 ORD	Total Nuveen %	Total Holdings
Holdings as of May 29, 2015	606,900	606,900	1,213,800	0.489%	1,213,800
Transactions as of June 1, 2015	-	-	-	0.000%	-
Holdings as of June 1, 2015	606,900	606,900	1,213,800	0.489%	1,213,800