(RTTNews) – JAB Holding company, a privately held investment firm, said on Monday that it has agreed to buy Mondelez International, Inc.’s (MDLZ) 86 million shares in JDE Peet’s N.V., a beverage firm, for 25.10 euros per share.
Joachim Creus, CEO of JAB, said: “JAB has strong conviction in the resilience of the global coffee sector and the long-term value creation prospects of JDE Peet’s. We are fully committed to remaining an anchor shareholder of the world’s leading pure-play coffee and tea company.”
In addition, JAB has distributed shares of JDE Peet’s to over 70 limited partners of JAB Consumer Partners or JCP, significantly increasing the free float of JDE Peet’s. This is the final distribution of JDE Peet’s shares to JCP investors.
In total, JAB distributed 43 million shares, or 9 percent of JDE Peet’s, increasing the free float to 32 percent.
Post acquisition of shares, JAB’s stake in JDE Peet’s will increase to 68 percent.
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Source : Nasdaq