PepsiCo moves $1bn from Ireland to Bermuda
Multinational prepares to wind up two solvent Irish subsidiaries ahead of Caribbean cash move
PepsiCo, the US food, snack and beverage giant, is transferring more than $1 billion in cash and assets from two of its Irish subsidiaries to the Caribbean.
The multinational is pulling down the shutters on two key Irish subsidiaries, Pepsi-Cola Manufacturing Ireland and PepsiCo Ireland.
The group has appointed a liquidator to both Irish entities and is transferring assets overseas, according to a declaration of solvency filed by to the Companies Registration Office.
