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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Mondelez International, Inc.    MDLZ

MONDELEZ INTERNATIONAL, INC.

(MDLZ)
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JAB Holding, Mondelez Pare Keurig Dr Pepper Stakes

11/17/2020 | 10:55am EST

By Colin Kellaher

Keurig Dr Pepper Inc. on Tuesday said European investment fund JAB Holding and snacks maker Mondelez International Inc., its two largest shareholders, are reducing their stakes through a series of stock sales and distributions.

The Burlington, Mass., beverage company said an offering of 60 million shares being sold by Mondelez and JAB's majority-owned Maple Holdings B.V. unit was priced at $28.45 apiece, below Monday's closing price of $29.45.

Mondelez, which previously held about 158.2 million shares, or a roughly 11.2% stake in Keurig, is selling 40 million shares in the offering, which will drop its stake to 8.4%.

The 2018 merger of Keurig Green Mountain and Dr Pepper Snapple Group left Mondelez with a 14% stake in the combined company.

Keurig said Maple is selling 20 million shares in the offering for the benefit of its minority partners and also will convert their minority interests into 119 million Keurig shares that it will distribute to the minority holders.

The minority interests in Maple are held by more than 100 investors, comprised of mostly sovereign wealth funds, university endowments and family offices, who have invested alongside JAB over the last five years as part of its beverages strategy.

JAB and Maple, which currently own about 44.1% of Keurig, will remain the company's largest shareholder, with a roughly 34% stake.

Keurig said the transactions will boost its public float to about 58%, compared with roughly 13% after the 2018 merger.

Shares of Keurig were recently down 3.2% to $28.50.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

11-17-20 1054ET

Stocks mentioned in the article
ChangeLast1st jan.
KEURIG DR PEPPER INC. 1.01% 31.86 Delayed Quote.-0.44%
MONDELEZ INTERNATIONAL, INC. -0.16% 57.22 Delayed Quote.-2.14%
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Financials (USD)
Sales 2020 26 430 M - -
Net income 2020 3 273 M - -
Net Debt 2020 16 777 M - -
P/E ratio 2020 24,9x
Yield 2020 2,06%
Capitalization 81 834 M 81 834 M -
EV / Sales 2020 3,73x
EV / Sales 2021 3,58x
Nbr of Employees 80 000
Free-Float 71,5%
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 22
Average target price 64,37 $
Last Close Price 57,22 $
Spread / Highest target 22,3%
Spread / Average Target 12,5%
Spread / Lowest Target -5,63%
EPS Revisions
Managers and Directors
NameTitle
Dirk van de Put Chairman & Chief Executive Officer
Luca Zaramella Chief Financial Officer & Executive Vice President
Robin S. Hargrove Executive VP-Research, Development & Quality
Javier Polit Chief Information Officer
Lois D. Juliber Independent Director
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