PURCHASE, N.Y., May 23, 2011 /PRNewswire/ -- PepsiCo, Inc. (NYSE: PEP) announced today the completion of the exchange of Russian rubles for U.S. dollars in connection with its tender offer in the United States for all outstanding American Depositary Shares (ADSs) of Wimm-Bill-Dann Foods OJSC (NYSE: WBD) for 970.925 Russian rubles per ADS payable in U.S. dollars. As previously announced, the U.S. offer expired at 12 p.m. EDT on Monday, May 16, 2011. A total of approximately 23,758,556 ADSs were validly tendered at expiration. For each ADS so tendered, PepsiCo paid Deutsche Bank Trust Company Americas (ADS Depositary) 970.925 Russian rubles which the ADS Depositary then converted into U.S. dollars at an average rate of RUR 28.48 to USD 1.00. Based on that exchange rate, tendering ADS holders will receive a gross rate of $34.09147 per validly tendered ADS, less fees under the ADS depositary agreement of $0.05 per tendered ADS for cancellations and $0.02 per tendered ADS for cash distributions, for a net rate of $34.02147 per validly tendered ADS. The ADS Depositary has informed PepsiCo that the payment date will be on or about May 26, 2011.
Important Additional Information
This release is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell Wimm-Bill-Dann's securities.
In connection with the Russian offer for shares, PepsiCo has filed a mandatory tender offer document with the Russian Federal Service for the Financial Markets (FSFM). Wimm-Bill-Dann distributed the Russian mandatory tender offer document, together with recommendations of its board of directors and related Russian offer acceptance materials, to holders of Wimm-Bill-Dann's shares. Copies of the Russian offer documents are also available by contacting Orient Capital, the information agent for the Russian offer, at +44-207-776-7574 or at the website maintained by Wimm-Bill-Dann at www.wbd.ru or the website maintained by Orient Capital at http://campaigns.orientcap.com/Pepsico-Wimm-Bill-Dann/.In connection with the U.S. offer for ADSs, a tender offer statement and related materials have been filed by PepsiCo with the Securities and Exchange Commission (SEC) and Wimm-Bill-Dann's solicitation/recommendation statement relating to the offer has been filed by Wimm-Bill-Dann with the SEC. PepsiCo mailed these materials for the U.S. offer to ADS holders. Investors and security holders are also able to obtain a copy of these statements and other documents filed by PepsiCo and Wimm-Bill-Dann free of charge at the website maintained by the SEC at www.sec.gov. In addition, the tender offer statement, the solicitation/recommendation statement, and related materials are available free of charge by contacting PepsiCo's information agent for the U.S. offer, Innisfree M&A Incorporated, toll-free at (877) 750-9496 (for ADS holders in the U.S. and Canada) or (412) 232-3651 (for ADS holders in other countries). ADS holders in the EU may also call Innisfree's wholly-owned subsidiary, Lake Isle M&A Incorporated, free-phone at +00-800-7710-9971. Investors and security holders are urged to carefully read the tender offer statements and any other documents relating to the Russian and U.S. offers filed by PepsiCo with the SEC and FSFM, as well as any amendments and supplements to those documents, because they contain important information.