PepsiCo has received approval from the Russian government to acquire a stake in juice and dairy company, Wimm-Bill-Dann (WBD), Reuters reports. PepsiCo’s subsidiary will buy 66% of the Russian company from a group of shareholders and subsidiaries of WBD for about $3.8 billion.
The acquisition is expected to be completed by Feb. 8, 2011. PepsiCo will own about 77% of total outstanding ordinary shares of WBD after the completion of the deal.
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