UPDATE 1-Pepsi says to buy Russia’s WBD for $5.4 bln

* To buy 66 pct of dairy and juice maker for $3.8 bln

* Will offer to acquire remaining shares

* Price implies total enterprise value of $5.4 bln

(Releads with Pepsico statement, adds details, background)

MOSCOW, Dec 2 (BestGrowthStock) – Pepsico Inc (PEP.N: ) said on
Thursday it had agreed to buy Russian juice and dairy producer
Wimm-Bill-Dann (WBD.N: ) for $5.4 billion.

Pepsico said it would buy 66 percent of WBD for $3.8 billion
and then offer to acquire the remaining shares following
completion of that acquisition.

“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,” Pepsico said in
a statement.

Wimm-Bill-Dann’s Moscow-listed shares jumped 27 percent on
news of the acquisition which is subject to regulatory
approvals.
(Reporting by Maria Kiselyova; Editing by David Holmes)

UPDATE 1-Pepsi says to buy Russia’s WBD for $5.4 bln