(qlmbusinessnews.com via uk.reuters.com — Mon,20 Aug 2018) London, UK —
(Reuters) – PepsiCo (PEP.O) is buying household drink-machine maker SodaStream (SODA.TA) (SODA.O) in a $3.2 billion deal, it said on Monday, seeking an edge in health-conscious beverages as it battles chief rival Coca-Cola (KO.N).
PepsiCo will acquire SodaStream for $144 per share in cash, representing a 10.9 percent premium to the Friday closing price of SodaStream’s U.S.-listed stock.
SodaStream, which makes machines that turn tap water into carbonated water, will help diversify PepsiCo’s portfolio of snacks and beverages. The Purchase, New York-based group will use cash on hand to fund the acquisition.
SodaStream’s Israel-listed shares will be halted for trading until its Nasdaq-listed stock opens later on Monday, the Tel Aviv Stock Exchange said in a statement.
Reporting by Bhanu Pratap
