CORRECTION

Ziarul Financiar ran a story entitled “PepsiCo in talks to take over Quadrant Amroq Beverages”, on Friday, October 31. Eli Davidai, CEO of Quadrant Amroq Bottling Company Ltd., the company owning the PepsiCo franchise in Romania, requested the right of reply.

“Eli Davidai, CEO & President of Quadrant Amroq Bottling Company Ltd., a company that is 100% owner of PepsiCo franchise in Romania, says that there were no offers from PepsiCo to buy any of its subsidiaries in Romania (neither minority stock nor complete takeover) in the last 12 years. He also would like to stress the fact that George Soros has never had and does not have now any holdings in Quadrant Amroq Bottling Company Ltd., the franchiser of PepsiCo in Romania, or in any of its affiliates in Romania such as Sigat, QAB, Vitarom or Sitaco. The third mention is that, contrary to what Ziarul Financiar mentioned in the article on Friday, October 31, Quadrant Sierra has never had and does not have any holdings in Quadrant Amroq Bottling Company Ltd., the franchiser of PepsiCo in Romania, or in any of its affiliates in Romania such as Sigat, QAB, Vitarom or Sitaco. Alan Quasha (and not Alan Coasa, as it was written) is the President of Quadrant Group. Last but not least, Perla is not a company, it is a mineral water brand owned by Vitarom Impex SRL.”

Alan Quasha, President of Quadrant Group told a Romanian central daily that the group’s management company – Sierra Quadrant – is the local representative in Romania of a fund managed and capitalised by Soros, in financial cooperation with OPIC (The Overseas Privatisation and Investment Corporation). Quasha stated that neither the quoted fund nor Soros (as a person) were involved in Quadrant Amroq Beverages. On the other hand, Eli Davidai would not answer the following question asked by ZF: has any company related to PepsiCo launched any procedures aimed at a potential takeover of the operations held by the group controlling Sigat, QAB, Vitarom and Sitaco?

PepsiCo is the company that owns the Pepsi brand, and other brands, as well. PepsiCo licenses other companies to make, bottle and sell Pepsi and other products.