(Reuters) – Elliott Management announced on Tuesday that it had participated in the capital of Pepsico for an amount of four billion dollars (3.42 billion euros) and announced that it was planning to revive the growth of the group and stimulate the scholarship course of the drinking manufacturer.
Pepsico must carry out an operational examination and set up a supervision as well as a structure around this review, said the activist investor during a presentation to the company’s board of directors.
The American group is facing fluctuating demand in the snack (and has resumes to respond to the evolution of consumer preferences towards healthier drinks and sodas, in particular by investing in the Celsius energy drinks manufacturer.
The Pepsico title, which has lost about a quarter of its value since its historic record reached in May 2023, climbed approximately 5% Tuesday in the trade in the front.
Elliott has already carried out activist campaigns with companies such as Honeywell, where he orchestrated the split of the manufacturer of heavy machines, and Starbucks, where he pressure for a change of direction.
Elliott and Pepsico did not immediately respond to requests for comments from Reuters.
(Written by Juveria Tabassum, Elena Smirnova, edited by Blandine Hénault)
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