CHINA: PepsiCo silent on Beijing Pepsi Cola Beverage plans
PepsiCo has plans to buy back stake holdings from local partners, according to reports
PepsiCo China has remained silent on reports that it is looking to retake control of its local subsidiary, Beijing Pepsi Cola Beverage Co.
Last week, PepsiCo confirmed to just-drinks that Beijing Yiqing Holding Co is to sell 15% of its stake in Beijing Pepsi Cola Beverage Co, which is a joint venture between the two firms.
Beijing Yiqing is seeking to sell its stake for CNY73m (US$10.86m), according to the Global Times, and PepsiCo has the first right to purchase.
PepsiCo is keen to buy back shareholdings in Beijing Pepsi Cola Beverage Co in order to gain full control of its businesses in China, according to the country's People's Daily newspaper.
However, PepsiCo declined to comment on the reports when contacted by just-drinks.
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