PepsiCo buying Russia s Wimm Bill Dann

December 2, 2010
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, MOSCOW, Dec 2 – The US soft drink giant PepsiCo will buy Russia\’s Wimm-Bill-Dann fruit and juice maker for 5.8 billion dollars, a spokeswoman with the Russian company said Thursday.

The purchase will give the US giant 100-control of Wimm-Bill-Dann in what is believed to be the largest acquisition in PepsiCo\’s history.

"We have signed an agreement that obligates us — in case of PepsiCo getting teh deal\’s approval from the corresponding agencies — to sell out shares at 132 dollars a piece," the RIA Novosti news agency quoted WBD Board Chairman David Yakobashvili as saying.

"In other words, the deal is worth 5.8 billion dollars," he said.

The company through its spokeswoman confirmed the figures when contacted by AFP.

News of the agreement sent WBD shares surging 21.5 percent on the Moscow exchange in mid-day trading.

Under the terms of the deal, PepsiCo bought 66 percent of the Russian company for 3.8 billion dollars on Thursday and agreed to acquire the remaining stake through a free-float.

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