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.
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