PepsiCo has commenced a tender offer for the outstanding shares of Wimm-Bill-Dann

PepsiCo has commenced a tender offer for the outstanding shares of Wimm-Bill-Dann

PepsiCo has commenced a tender offer for the outstanding shares of Wimm-Bill-Dann (WBD).

The soft drinks giant completed the acquisition of a 66% stake in WBD for US$3.8bn yesterday (3 February). The deal means that PepsiCo has a 77% in WBD.

In an announcement today, PepsiCo said it has offered RUB3,883.70 (US$132.3) per share and RUB970.925 per American Depository Share for the remaining shares in the Russian dairy and juice giant. The prices exclude interest and fees, conversion expenses and applicable taxes.

The ADS tender price will be converted to US dollars at the market rate upon payment, said PepsiCo.