(Adds response from companies; share movement)
April 16 At-home soda maker Sodastream
International is in early talks to sell a stake of up
to 16 percent to a strategic entity, Israeli financial news
daily Calcalist reported on its website.
U.S. shares of Sodastream rose as much as 12 percent to
$42.25 on Wednesday after the website identified PepsiCo Inc
, Dr Pepper Snapple Group or Starbucks Co
as the potential investors in the Israel-based company.
The website did not cite any sources for its information.
The price being discussed values Sodastream at about $1.1
billion, Calcalist said. The valuation reflects a share price of
$52, compared with Sodastream's closing price of $37.64 on the
Nasdaq on Tuesday.
More than a third of the company's shares are held by
The Hebrew language website said there were still
differences between the parties over the type of deal that would
be carried out. (r.reuters.com/zuw58v)
Sodastream spokesman Yonah Lloyd said the company would not
comment on market rumors. PepsiCo, Dr Pepper and Starbucks also
declined to comment.
The potential investor is interested in receiving an option
to increase its stake in the future and eventually gain control
of the company, Calcalist said.
Coca-Cola Co bought a 10 percent stake in Keurig
Green Mountain Inc in February to jointly develop a new
cold drink machine, putting pressure on Sodastream to bolster
its position through a partnership or merger with a leading
In June last year, Calcalist reported that PepsiCo had made
an offer through Goldman Sachs to buy Sodastream for $2
billion. PepsiCo said the report was untrue.
Sodastream's shares, which have fallen more than 20 percent
in the past 12 months, were up 8 percent at $40.72 in morning
trading on Wednesday.
(Reporting by Tova Cohen in Tel Aviv, Siddharth Cavale and
Mridhula Ragahavan in Bangalore; Editing by Saumyadeb