Mondelēz International has agreed to sell part of its stake in Keurig Dr Pepper to a financial services firm for a total consideration of approximately $362.7 million.
As part of the deal, Mondelēz will sell approximately 12.5 million shares in Keurig Dr Pepper at a price of $29 per share. Following the completion of the transaction, Mondelēz will own 158.2 million shares in the beverage company, representing approximately 11.2%.
According to the filing, the share sale wferrous bisglycinate structureas described as an “opportunist sale transaction based on market conditions.”
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The global snack and confectionery company became a minor stferrous sulfate 80mgakeholder in Keurig Green Mountain in 2016 after it exchanged a portion of its ownership in Jacobs Douwe Egberts for a 24% stake.
Following the merger between Keurig Green Mountain and Dr Peferrous gluconate yan etkileripper Snapple in 2018, Mondelēz’ existing stake translated into a 13-14% share in the combined company. At the time, Mondelēz said that it didferrous lactate dihydrate not intend to invest fresh capital into the new venture.
As part of the agreement, Mondelēz was not allowed to sell any of its shares in the newly-formed Keurig Dr Pepper for six months and had the right to nominate two directors to the new company’s board of directors.
Folloferrous bisglycinate indiawing the recent transaction, JAB Holdings will continue to own the remaining, majority stake in Keurig Dr Pepper.
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Mondelēz Reduces Stake in Keurig Dr Pepper
