PepsiCo (PEP - Get Report) said Sept. 9 that it completed its acquisition of Wimm-Bill-Dann Foods, a Russian manufacturer of dairy and juice products, a deal initially announced on July 1.
Pepsi acquired around 1.4% of WBD's outstanding shares through a squeeze-out where majority shareholders effectively pressured minority holders to divest their shares. Pepsi now owns 100% of WBD's outstanding ordinary shares, including all ordinary shares underlying American depositary shares (ADS). Each WBD shareholder received 3,883.70 Russian rubles ($131.38) per share, the same price Pepsi offered to WBD shareholders in a recently completed tender offer in Russia. Each ADS holder will receive 970.925 Russian rubles ($32.75) per ADS in cash.