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Food & Beverage

PepsiCo Receives Russian Regulatory Approvals

February 02, 2011
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PRNewswire reports that PepsiCo, Inc. announced that the Federal Antimonopoly Service of the Russian Federation has issued approvals for PepsiCo''s previously announced acquisition of Wimm-Bill-Dann Foods OJSC, Russia''s leading branded food-and-beverage company. As a result, PepsiCo has received all regulatory approvals required as conditions to completing the acquisition. Under the acquisition agreement, a subsidiary of PepsiCo will acquire approximately 66-percent of Wimm-Bill-Dann from a group of shareholders and subsidiaries of Wimm-Bill-Dann for approximately $3.8 billion. PepsiCo plans to close the acquisition, which remains subject to the satisfaction of certain other customary closing conditions, on or about February 8, 2011. After closing the acquisition agreement, PepsiCo will own approximately 77-percent of the total outstanding ordinary shares of Wimm-Bill-Dann.

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