PepsiCo: buys Israel's SodaStream for 3.2 billion dollars
(CercleFinance.com) - PepsiCo said on Monday that it has agreed to acquire all of the shares of Israeli soda machine maker SodaStream in a transaction worth 3.
2 billion dollars.
Pepsi plans to acquire all of SodaStream's outstanding shares for 144 dollars per share in cash, which represents a 32% premium to the stock's average price.
The Nasdaq-listed SodaStream stock closed at 129.85 dollars last Friday.
The transaction comes as PepsiCo is seeking to promote health and wellness through environmentally friendly, cost-effective and fun-to-use beverage solutions, the company said.
PepsiCo said its strong distribution capabilities, global reach will help SodaStream to position for further expansion.
The transaction - which will be funded with PepsiCo's cash on hand - is expected to close by January 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
2 billion dollars.
Pepsi plans to acquire all of SodaStream's outstanding shares for 144 dollars per share in cash, which represents a 32% premium to the stock's average price.
The Nasdaq-listed SodaStream stock closed at 129.85 dollars last Friday.
The transaction comes as PepsiCo is seeking to promote health and wellness through environmentally friendly, cost-effective and fun-to-use beverage solutions, the company said.
PepsiCo said its strong distribution capabilities, global reach will help SodaStream to position for further expansion.
The transaction - which will be funded with PepsiCo's cash on hand - is expected to close by January 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.