In a win-win for broad-based black economic empowerment (B-BBEE) and foreign direct investment, Pepsico, which is buying SA’s branded consumer foods maker Pioneer Foods, has reached agreement with trade & industry minister Ebrahim Patel on how the $1.7bn (R26bn) tie-up is to go ahead.

Pepsico, the US-based snack-and-beverage giant, is in the midst of buying the maker of Spekko rice, Ceres juices and Weet-Bix breakfast cereals in one of the company’s biggest investments yet outside the US...

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