ISRAEL: SodaStream quiet on stake sale reports
Is SodaStream poised to sell off a 16% stake?
SodaStream has declined to comment on reports of a stake sale that has seen its share price leap in the last 24 hours.
Israeli newspaper Calcalis cited unspecified sources yesterday (16 April) in a story that claimed SodaStream is about to divest a 10% to 16% holding to a soft drinks producer for US$52 per share. Among the companies thought to be considering a move are PepsiCo, Dr Pepper Snapple Group and Starbucks, the paper claimed.
The report prompted a leap in SodaStream's share price, from US$37.69 at the close on Tuesday to $40.75 per share at yesterday's close.
When contacted by just-drinks today, however, a spokesperson for SodaStream said: “We do not comment on rumour and speculation.”
The home-carbonation arena has been lively this year, with both Coca-Cola Co and PepsiCo making moves in the last two months. In February, Coca-Cola paid $1.25bn for a 10% stake in Green Mountain Coffee Roasters, which manufactures the Keurig Cold carbonation system. Much as PepsiCo said in the same month that it was “premature to commit” to the existing home-carbonation technology, the firm confirmed to just-drinks in March that it has partnered with Malta-based Bevyz, which unveiled its “multi-drink system” in the US a week later.
In late-February, SodaStream posted a slide in full-year profits despite a healthy lift in sales in 2013.
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