Pepsi to buy Russia’s WBD for $5.4 bn

Pepsi to buy Russia’s WBD for $5.4 bn
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First Published: Thu, Dec 02 2010. 04 37 PM IST
Updated: Thu, Dec 02 2010. 04 37 PM IST
Moscow: Pepsico Inc said on Thursday it had agreed to buy Russian juice and dairy producer Wimm-Bill-Dann for $5.4 billion. Pepsico said it would buy 66% of WBD for $3.8 billion and then offer to acquire the remaining shares following completion of that acquisition.
“The transaction will establish PepsiCo as the largest food and beverage business in Russia, make it a leader in the country’s fast-growing dairy category and build its presence in key markets in eastern Europe and central Asia,” Pepsico said in a statement.
Wimm-Bill-Dann’s Moscow-listed shares jumped 27% on news of the acquisition which is subject to regulatory approvals.
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First Published: Thu, Dec 02 2010. 04 37 PM IST
More Topics: Wimm-Bill-Dann | Pepsi | Russia | Acquisition | F&B |