Billionaire investor Nelson Peltz sells $2bn Pepsi stakeStaff writer ▼ | May 14, 2016
Trian Fund Management, run by billionaire investor Nelson Peltz, had completely sold out of its nearly $2 billion stake, 1+ percent, in Pepsi.
Exit Trian Fund walked away with a 50 percent return
"Trian believes PepsiCo has addressed many operational issues identified by Trian — management has increased productivity efforts, reduced overhead, increased advertising investment, and delivered consistent earnings growth on a constant currency basis," Trian said in a statement Friday.
"The market has viewed these developments positively and PepsiCo currently trades at a substantially higher multiple than at the time of Trian's initial investment in late 2012." ■