NEW YORK (Standard&Poor's) Dec. 2, 2010--Standard&Poor's Ratings Services said today that its ratings and outlook on PepsiCo Inc. (A/Stable/A-1) are not affected following the company's announcement that it has agreed to acquire 66% of Wimm-Bill-Dann Foods OJSC (BB-/Stable/--) for $3.8 billion. 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. PepsiCo estimates its $3.8 billion investment in Wimm-Bill-Dann implies a total enterprise value of about $5.4 billion. PepsiCo expects to receive the required regulatory approvals by June 2011. Wimm-Bill-Dann is a branded food and beverage company
