Food and beverage giant PepsiCo announced that it will spend $3.8 billion in cash to acquire a 66 percent share of juice and dairy company Wimm-Bill-Dann Foods OJSC, establishing Pepsi as the largest food-and-beverage business in Russia.
Pepsi will pay shareholders $33 per ADR share, or $132 per ordinary Russian share in the transaction. This value represents a 32 percent premium to the 30-day average trading price of Wimm-Bill-Dann’s ADR shares.
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