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.


Air France, Emirates maintain Cairo flights after British Air suspension

Updated 26 min 47 sec ago
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Air France, Emirates maintain Cairo flights after British Air suspension

  • British Airways, a unit of IAG, said it was suspending flights to Cairo for seven days “as a precaution”
  • Germany’s Lufthansa later said it had canceled its flights to Cairo from Munich and Frankfurt and would resume its connection

PARIS: Air France, Emirates and Etihad Airways are continuing to operate flights to Cairo after British Airways and Lufthansa suspended services to Egypt’s capital.
International Airlines Group’s British Airways suspended flights on Saturday for seven days “as a security precaution” as it reviews security at Cairo airport.
Germany’s Lufthansa later said it canceled services from Munich and Frankfurt to Cairo and would resume flights on Sunday.
“In liaison with the French authorities and the local authorities in Egypt, Air France has decided to maintain its service to Cairo,” a spokesman said in a statement sent to Reuters.
An Emirates spokeswoman said its flights were operating to schedule.
“We are closely assessing the situation and are in contact with the relevant aviation authorities with regards to our flight operations to Egypt,” the spokeswoman said.
The website for Abu Dhabi’s Etihad showed its services were also operating.
“Etihad Airways is monitoring the security situation in Cairo,” an airline spokesman said.