Davis Polk is advising PepsiCo, Inc. in connection with its proposed acquisition of a 66% stake in Wimm-Bill-Dann Foods OJSC for $3.8 billion, implying a total enterprise value of approximately $5.4 billion for the company. In connection with this acquisition, PepsiCo will offer to acquire the remaining shares of Wimm-Bill-Dann through an offer following completion of that acquisition at such time and on terms as are mandated by Russian law, and PepsiCo may acquire additional shares in other transactions. The transaction is subject to customary closing conditions, including receipt of certain regulatory approvals.
PepsiCo offers the world’s largest portfolio of billion-dollar food and beverage brands, including 19 different product lines that each generates more than $1 billion in annual retail sales. Wimm-Bill-Dann Foods is Russia’s leading branded food and beverage company.
The Davis Polk corporate team includes George R. Bason Jr., Peter R. Douglas, John Banes, Erika Diane White, Ashleigh S. Kyle, Rahael Seifu, Brian Wolfe, Louise C. Bennetts, Brian L. Friedman and Jason Mehar. The tax team includes Avishai Shachar and Craig A. Phillips. Michael N. Sohn and Ronan P. Harty are providing antitrust advice. Edmond T. FitzGerald is providing benefits advice. Members of the Davis Polk team are based in the New York and London offices
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