Goldman Sachs has been appointed by Cadbury Schweppes, the UK confectionery group, on the potential sale of its European soft drinks business.

The division is likely to be worth between £1.1bn (€1.6bn) and £1.3bn, and the mandate was awarded to Goldman after its appointment with UBS as corporate broker to Cadbury last month. Brokers said that Cadbury appointed Goldman because it wanted a broker that could execute international mergers and acquisitions deals.