PepsiCo to Acquire 66% of Wimm-Bill-Dann for $3.8B

PepsiCo PEP and Wimm-Bill-Dann Foods OJSC WBD earlier today announced that PepsiCo has agreed to acquire 66% of Wimm-Bill-Dann for $3.8 billion, pending the required government approvals. In connection with this acquisition, PepsiCo will offer to acquire the remaining shares of Wimm-Bill-Dann through an offer following completion of that acquisition at such time and on terms as are mandated by Russian law, and PepsiCo may acquire additional shares in other transactions.