This content is from: Innovation

Russia OKs $3.8B PepsiCo-WBD Deal

PepsiCo has received approval from the Russian government to acquire a stake in juice and dairy company, Wimm-Bill-Dann.

PepsiCo has received approval from the Russian government to acquire a stake in juice and dairy company, Wimm-Bill-Dann (WBD), Reuters reports. PepsiCo’s subsidiary will buy 66% of the Russian company from a group of shareholders and subsidiaries of WBD for about $3.8 billion.

The acquisition is expected to be completed by Feb. 8, 2011. PepsiCo will own about 77% of total outstanding ordinary shares of WBD after the completion of the deal.

Click here for the story from Reuters.

Click here for the additional coverage from Bloomberg.

Related Content