PepsiCo to buy SodaStream for $3.2bn

SodaStream makes a machine and refillable cylinders through which users can make their own soda or carbonated water drinks. (AFP)
Updated 20 August 2018
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PepsiCo to buy SodaStream for $3.2bn

  • The cash deal will see PepsiCo. pay $144 per share for SodaStream’s outstanding stock
  • PepsiCo. says it aims to provide environmentally friendly and cost-effective products that promote health and wellness

NEW YORK: PepsiCo. said Monday it plans to buy SodaStream, an Israeli maker of carbonation products, for $3.2 billion as the beverage and snacks giant makes further inroads with in-home goods.
The cash deal will see PepsiCo. pay $144 per share for SodaStream’s outstanding stock, a 32 percent premium over its average price of the past 30 days.
SodaStream offers consumers “the ability to make great-tasting beverages while reducing the amount of waste generated,” PepsiCo. chair and CEO Indra Nooyi said in a statement.
“That focus is well-aligned with Performance with Purpose, our philosophy of making more nutritious products while limiting our environmental footprint. Together, we can advance our shared vision of a healthier, more-sustainable planet.”
PepsiCo. says it aims to provide environmentally friendly and cost-effective products that promote health and wellness.
“From breakthrough innovations like Drinkfinity to beverage dispensing technologies like Spire for food service and Aquafina water stations for workplaces and colleges, PepsiCo. is finding new ways to reach consumers beyond the bottle,” said Ramon Laguarta, PepsiCo. CEO-elect and president.
While the boards of directors of both companies have approved the deal, it is still subject to a SodaStream shareholder vote, regulatory approvals and other conditions, PepsiCo. said, adding that closing was expected by January 2019.
PepsiCo. had $63 billion in revenue last year.


Mike Pompeo on China trade war: ‘We are going to win’

Updated 28 min 22 sec ago
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Mike Pompeo on China trade war: ‘We are going to win’

NEW YORK: Secretary of State Mike Pompeo vowed that the United States would emerge victorious in an intensifying trade war with China, a day before Washington imposes $200 billion worth of tariffs.
“We are going to win it,” Pompeo said in an interview on Fox News broadcast Sunday.
“We’re going to get an outcome which forces China to behave in a way that if you want to be a power — a global power — transparency, rule of law, you don’t steal intellectual property,” he said.
Pompeo said that President Donald Trump “very much likes” his Chinese counterpart Xi Jinping but said he would press policies that “the American workers deserve.”
Even before Trump’s election, the United States has complained vigorously that China has been unfair to US businesses and has stolen technology by forcing firms to reveal secrets as a condition to operate in the fast-growing Asian economy.
But Trump has taken an increasingly hard line on trade around the world, with $200 billion in tariffs on Chinese exports set to take effect on Monday.
China has retaliated by hitting $60 billion in US products and the world’s two largest economies have already imposed tariffs of $50 billion on each other.
In a first, the Trump administration has also punished a unit of China’s defense ministry for buying fighter jets and missiles from Russia in defiance of sanctions on Moscow.