Pepsico To Increase Celsius Stake With $585 Million Deal: Report

PepsiCo Inc. (PEP) is reportedly set to increase its stake in Celsius Holdings Inc. (CELH) through a $585 million deal, which will result in its holdings rising to 11%.

According to a Bloomberg report citing people familiar with the matter, PepsiCo will purchase Celsius' preferred convertible stock, while Celsius will acquire the beverage giant's Rockstar Energy brand in the U.S. and Canada.

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