Ratings agency Moody’s Investors Service has given PepsiCo’s plans to buy SA’s Pioneer a thumbs-up, saying the R24.4bn transaction would give the US beverage and food company a new platform for growth.

In a move that will culminate in a strong push into the rest of Africa, PepsiCo has made a bid to buy the maker of Weet-Bix, Liqui-Fruit, Ceres, Sasko, Safari, Spekko and White Star.

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