PepsiCo is to receive a loan from Wimm-Bill-Dann (WBD) to purchase the remaining shares in the Russian dairy firm.
In December, the US soft drinks and snacks giant struck a deal to buy a 66% stake in WBD for US$3.8bn. Since then, the firm has accumulated an additional 11% stake and now holds 77% of the business.
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PepsiCo confirmed to just-food late yesterday (8 February) that it will receive a RUB31.37bn (US$1.06bn) loan from WBD to purchase the remaining 23% of the company.
The firm plans to announce the purchase by 11 March. PepsiCo has offered US$132.3 per share and RUB970.925 per American Depositary Share for the remaining shares.
PepsiCo commenced a tender offer for the outstanding shares last week.
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