NETHERLANDS Refresco Group N.V. have announced it has entered into negotiations with PAI Partners SAS (PAI). On 3 October, Refresco received an unsolicited, indicative and conditional proposal from PAI, which was carefully reviewed by the Executive Board and the Supervisory Board in line with their fiduciary duties. Since, interaction has taken place with PAI on a number of topics, including the financial and non-financial conditions. Following this interaction, the company has now entered into negotiations with PAI. The Boards will take the interest of all stakeholders into account, and will continue to focus on the closing of the transformational acquisition of Cott’s bottling activities.