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PepsiCo Is Said in Talks to Buy Pioneer Foods of South Africa

July 18, 2019, 7:28 PM

PepsiCo Inc. is in advanced talks to acquire South Africa’s Pioneer Foods Group Ltd. as part of the U.S. drinks giant’s push into emerging markets, according to people familiar with the matter.

The American company could reach an agreement as early as this week, said the people, who asked not to be identified as the deal isn’t yet public. Talks are ongoing and could still be delayed or fall apart, the people said.

Pioneer said July 18 that it’s in negotiations that could affect the stock price, sending shares up 10% since the July 12 before the announcement and giving ...