Live Update arrow right icon From the Liveblog of Tuesday, September 24, 2019

SodaStream chief Birnbaum suspected of insider trading

24 September 2019, 4:35 pm
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Daniel Birnbaum, the popular head of Israeli fizzy water company SodaStream. is being investigated for insider trading connected to PepsiCo’s acquisition of the firm.

The soda giant paid $3.2 billion, or $144 a share, for the company last year, in one of the largest buyouts in Israel’s history.

SodaStream CEO Daniel Birnbaum (l) and PepsiCo’s CEO Ramon Laguarta at the SodaStream factory in the Negev Desert next to the city of Rahat on August 20, 2018. (Eliran Avital)

Birnbaum was questioned, arrested and released on NIS 1.2 million bail, according to media reports.

 

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