 "PepsiCo Inc explores options for its Russian business, says report")
PepsiCo Inc is exploring options for its Russian business, including writing off the value of the division, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
However, the company is reluctant to shut down its Russian unit due to its production of daily essentials like milk and baby formula, according to the WSJ report.
PepsiCo did not respond to Reuters request for comment.
Political pressure is building on Western companies to halt business in Russia following the country's invasion of Ukraine.
Earlier on Tuesday, McDonald's Corp said it would temporarily close all 847 of its restaurants in Russia.
Pepsi was one of the few Western products allowed in the Soviet Union prior to its collapse. The company has two production plants and sells snacks and beverages in the country, according to its most recent annual report for 2021.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%