• Login
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
Times of Pakistan
No Result
View All Result
Home Business

Pepsi to buy majority stake in Russia’s Wimm-Bill-Dann

ToP by ToP
August 17, 2021
in Business, Pakistan
0
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter

Soft drinks maker PepsiCo has said it is buying a 66% stake in Russian dairy and fruit juice maker Wimm-Bill-Dann for $3.8bn (£2.4bn).

PepsiCo said it would also seek to buy the remaining shares in Wimm-Bill-Dann when the initial deal is completed.

The deal is the biggest foreign investment in Russia outside the energy sector.

“Wimm-Bill-Dann is a terrific business with significant opportunities,” said Zein Abdalla of PepsiCo Europe.

In a statement, PepsiCo said: “The transaction will establish PepsiCo as the largest food and beverage business in Russia, make it a leader in the country’s fast-growing dairy category and build its presence in key markets in eastern Europe and central Asia,”The firm added that the deal would increase its annual revenues to nearly $13bn, putting it on course to achieve its strategic goal of building a $30bn nutrition business by 2020.
Humble beginnings

Sergei Plastinin, Wimm-Bill-Dann chairman, said the agreement was an historic one for both his company and the country. “Wimm-Bill-Dann was started 18 years ago with a handful of employees based in one room,” he said. “Today we have over 16,000 people and 38 production facilities.” The deal was reached after only three weeks of talks. Its completion is subject to regulatory approval – BBCnews

Previous Post

Sarkozy trade coup as India buys nuclear reactors

Next Post

Internet addresses to be used up in January

ToP

ToP

Related Posts

Foreign exchange: SBP reserves go down by $75mn in a week
Pakistan

Pakistani rupee slips further against the US dollar

by wasif
January 17, 2023
Talks with India not possible until revocation of J&K’s status: PM Office
Pakistan

Talks with India not possible until revocation of J&K’s status: PM Office

by Top
January 17, 2023
Andre Emilio Suiting
Entertainment

Modernizing the Art of Bespoke Tailoring

by wasif
January 17, 2023
No case of Omicron variant BF.7 detected so far in Pakistan: NIH
Pakistan

No case of Omicron variant BF.7 detected so far in Pakistan: NIH

by Top
January 3, 2023
President, PM grieved over loss of security personnel in Bannu operation
Pakistan

President, PM grieved over loss of security personnel in Bannu operation

by Top
January 2, 2023
New Gas Reserves Discovered In D.I.Khan
Pakistan

New Gas Reserves Discovered In D.I.Khan

by Top
December 27, 2022
Bilawal asks UN to resolve issue of unsustainable debt of developing countries
Pakistan

Bilawal asks UN to resolve issue of unsustainable debt of developing countries

by Top
December 19, 2022
Next Post

Internet addresses to be used up in January

Popular Stories

  • Man in central China

    Watch Video: Chinese Man Eats 2.5kg of Chillies a Day

    0 shares
    Share 0 Tweet 0
  • Andrea Riseborough flaunts her cleavage in black gown at the red carpet of Independent Film Awards

    0 shares
    Share 0 Tweet 0
  • Pamela Anderson gets back into her Baywatch colour

    0 shares
    Share 0 Tweet 0
  • The Suffering Soul in the Scientific Age

    0 shares
    Share 0 Tweet 0
  • ‘Fake, doctored’: PML-N’s Muhammad Zubair on ‘video leak scandal’

    0 shares
    Share 0 Tweet 0
Times of Pakistan

About Times Of Pakistan

kralbetbetturkeyikimislibahis1xbetm.infohipas.infohttps://www.wiibet.com/restbetcdn.com

Other Categories

  • Beautiful Pakistan
  • Fashion News
  • Funny News
  • Viral Videos
  • Weird News

Recent Posts

  • Breath life into the Royal Era of the East with Shameel Khan
  • Pakistani rupee slips further against the US dollar
  • Talks with India not possible until revocation of J&K’s status: PM Office

Times Of Pakistan © 2021. Design & Developed by E2E Solution Providers.

No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In