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Lotte raises Pepsi stake

Lotte Chilsung Beverage Co. Ltd. of South Korea said Wednesday it raised its stake in local softdrink maker Pepsi-Cola Products Philippines Inc. to 38.88 percent. Lotte Chilsung said in a filing with the stock exchange it acquired an additional 165.658 million PCPPI shares at P6.155 per share worth P1.02 billion to increase its stake by 4.48 percent from 34.4 percent as of end-March 2013. Lotte Chilsung said it owned 1.438 billion shares in PCPPI as of end-June. Lotte Chilsung, one of the biggest beverage companies in South Korea, acquired a 34.4-percent stake in PCPPI in 2010 after buying the combined stakes of Guoco Inc., Hongway and other minority shareholders. Netherlands-based Quaker Global Investments B.V. is PCPPI’s second-biggest shareholder with 29.48-percent stake as of end-March 2013.
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