Acquisition approval for PepsiCo
PepsiCo has been given the go-ahead to acquire the majority stake in Wimm-Bill-Dann Foods by the Russian government.
PepsiCo could soon become the largest food and beverage company in Russia after the government in the country gave its permission for the firm to acquire a majority stake in Wimm-Bill-Dann Foods.
The sales negotiations are expected to conclude on February 8th and the US firm is forecast to hold about 77 per cent of the Russian company, which manufactures dairy products, juice and baby food.
With the price of the stake likely to be in the region of $3.8 billion (£2.4 billion), this will be the largest international purchase made by PepsiCo.
For this fee, the company will acquire an additional 66 per cent of the Russian organisation and will give it a strong position from which to move into eastern European and central Asian markets.
This comes after JD Sports Fashion announced that business negotiations with Champion Sports Holdings had reached the next level through the exchange of contracts.