PepsiCo franchisees open talks on intra-UAE merger
REUTERS
Published — Tuesday 31 December
2013
DUBAI: Dubai Refreshments (DRC)
said on Monday it would open talks with fellow PepsiCo franchisee, Abu Dhabi Refreshments Company, about a
possible merger, in the latest example of United Arab Emirates
rival firms to consolidate.
Both companies are distributors of
PepsiCo soft drinks and snacks in the region. The merger was being looked at
"as an opportunity to create greater synergies for both the
companies", a statement to the Dubai
bourse from DRC said.
No values were given in the
statement. DRC has a market capitalization of around $300 million.
Should a merger happen, it will be
the latest between firms in Dubai and Abu Dhabi in the same sectors, as the UAE
looks to consolidate companies operating in the same sectors to create larger
companies that can compete better on a global stage, and also as a way to
support Dubai with cash as it faces repayments on government-related
restructured debt.
The merging of Dubai
and Abu Dhabi's
aluminum businesses has already been announced, while a tie-up between the two
emirates' stock markets is being prepared.
The Dubai-Abu Dhabi Refreshments
merger would differ from the aluminum and bourse mergers because neither drinks
company is state-owned.
Sheikh Ahmed bin Rashed
Al-Maktoum, the brother of Dubai's
ruler, is the largest shareholder in DRC with a 20 percent stake, with three
other local families holding more than 5 percent, according to Thomson Reuters
data.
Fifty-nine percent of DRC is
publicly listed, although the stock is barely traded. Its shares were unchanged
at 12.25 dirhams ($3.34) in Dubai,
having last traded on Dec. 12. Abu Dhabi Refreshments Co is fully-owned by the
Al-Dahery Group, according to Zawya, a Thomson Reuters unit.
United
Arab Emirates
Akin,
Gump, Strauss, Hauer & Feld, LLP is the lobby firm for the United
Arab Emirates, and was the lobby firm
for the Center for American Progress.
Note: PepsiCo, Inc. was
a funder for the Center for American
Progress.
Vernon E. Jordan Jr. is a senior
counsel for Akin, Gump, Strauss, Hauer
& Feld, LLP, Valerie B. Jarrett’s great uncle, an honorary trustee at
the Brookings Institution (think tank), a director at the American
Friends of Bilderberg (think tank), and a 2008 Bilderberg conference
participant (think tank).
Foundation
to Promote Open Society was a funder for the Center for American Progress, the Brookings Institution (think
tank), the Committee for Economic Development, the Committee for Economic Development,
the International Rescue Committee, ProPublica, and the Carnegie
Endowment for International Peace (think tank).
George
Soros was a supporter for the Center
for American Progress, and the chairman for the Foundation to Promote Open Society.
Valerie B. Jarrett
is Vernon E. Jordan Jr’s great niece, the senior
adviser for the Barack Obama
administration, a friend of Linda
Johnson Rice, and a member of the Commercial
Club of Chicago.
Linda Johnson
Rice is a friend of Valerie B.
Jarrett, a member of the Commercial
Club of Chicago, and a director at the United
Negro College Fund.
Steven S.
Reinemund was a director at the United
Negro College Fund, and the chairman for PepsiCo, Inc.
Michael H. Jordan
was a director at the United Negro
College Fund, the division chairman & CEO for PepsiCo, Inc., and an honorary trustee at the Brookings Institution (think tank).
Larry
D. Thompson is the EVP of governmental affairs, general counsel &
secretary for PepsiCo, Inc., a
trustee at the Committee for Economic
Development, and at trustee at the Brookings
Institution (think tank).
Cyrus F.
Freidheim Jr. is an honorary trustee at the Brookings Institution (think tank), and a member of the Commercial Club of Chicago.
Commercial Club of Chicago,
Members Directory A-Z (Past Research)
Tuesday, December 17, 2013
Mellody L. Hobson
is a member of the Commercial Club of
Chicago, and the chairman for DreamWorks
Animation SKG Inc.
Roger
A. Enrico was the chairman for DreamWorks
Animation SKG Inc., and the chairman & CEO for PepsiCo, Inc.
Karl M. von
der Heyden was a director at DreamWorks
Animation SKG Inc., and the vice chairman for PepsiCo, Inc.
Dina
Dublon is an overseer at the International
Rescue Committee, and a director at PepsiCo,
Inc.
Indra
K. Nooyi is an overseer at the International
Rescue Committee, and the chair & CEO for PepsiCo, Inc.
Alberto Ibarguen
is a director at ProPublica, and a
director at PepsiCo, Inc.
Daniel
Vasella is a trustee at the Carnegie
Endowment for International Peace (think tank), and a director at PepsiCo, Inc.
Jessica Tuchman Mathews is the
president of the Carnegie Endowment for International Peace (think tank),
a director at the American Friends of Bilderberg (think tank), was an
honorary trustee at the Brookings Institution (think tank), and a 2008 Bilderberg
conference participant (think tank).
Ed Griffin’s interview with
Norman Dodd in 1982
(The investigation into the
Carnegie Endowment for International Peace uncovered the plans for population
control by involving the United
States in war)
Vernon E. Jordan Jr. is an honorary
trustee at the Brookings Institution (think tank), Valerie B. Jarrett’s great uncle, a senior counsel for Akin, Gump, Strauss, Hauer & Feld, LLP,
a director at the American Friends of Bilderberg (think tank), and a
2008 Bilderberg conference participant (think tank).
Akin,
Gump, Strauss, Hauer & Feld, LLP is the lobby firm for the United
Arab Emirates, and was the lobby firm
for the Center for American Progress.
PepsiCo,
Inc. was a funder for the Center for
American Progress.
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