PepsiCo is to receive a loan from Wimm-Bill-Dann

PepsiCo is to receive a loan from Wimm-Bill-Dann

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 giant struck a deal to buy a stake in WBD for US$3.8bn. Since then, the firm has accumulated an additional 11% share and now holds a 77% stake.

PepsiCo confirmed to just-drinks late yesterday (8 February) that it will receive a RUB31.37bn (US$1.06bn) loan from WBD to purchase the remaining 23% stake.

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.