US food and drink company PepsiCo has highlighted the strategic importance of the Russian market for big global companies with its plans to acquire a controlling stake in juice and dairy firm Wimm-Bill-Dann that will transform its position in the fast-growing beverages sector. Following the purchase, the Russian juice market will effectively be divided between Pepsi and its arch-rival, Coca-Cola.
In early December Pepsi announced a bid worth $3.8 billion for a 66% stake in Wimm-Bill-Dann, with an option to acquire the rest at a later date.
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