NORTHFIELD, Ill., June 8, 2012 /PRNewswire/ -- Kraft Foods
Inc. today announced that it will transfer its stock exchange
listing to The NASDAQ Global Select Market from the New York Stock
Exchange. The company said that its decision to transfer to
The NASDAQ Global Select Market, an exchange of The NASDAQ OMX
Group Inc. (Nasdaq: NDAQ), will yield greater cost efficiencies,
while providing visibility advantages for the company's iconic
brands. Kraft Foods shares will begin trading on The NASDAQ
Stock Market on June 26, 2012, and
the ticker symbol will remain KFT.
(Logo:
http://photos.prnewswire.com/prnh/20090420/KRAFTLOGO)
As previously announced, Kraft Foods Inc. will be dividing into
two industry-leading public companies before the end of the year: a
high-growth global snacks business called Mondelez International,
Inc., and a high-margin North American grocery business called
Kraft Foods Group, Inc. Both of these companies will trade on
the NASDAQ exchange.
At the time of the spin-off later this year, Kraft Foods Inc.
will change its name to Mondelez International, Inc., and the
company's common stock will trade under the symbol MDLZ.
Concurrently, the North American grocery business will be spun off
to form a new company, Kraft Foods Group, Inc., whose common stock
will trade under the symbol KRFT. The symbol KFT will be
retired at that time.
Until the spin-off, however, the name and stock trading symbol
for the company will remain Kraft Foods Inc. and KFT,
respectively.
About Kraft Foods
Kraft Foods Inc. (NYSE: KFT) is a global snacks powerhouse with
an unrivaled portfolio of brands people love. Proudly marketing
delicious biscuits, confectionery, beverages, cheese, grocery
products and convenient meals in approximately 170 countries, Kraft
Foods had 2011 revenue of $54.4
billion. Twelve of the company's iconic brands –
Cadbury, Jacobs, Kraft, LU, Maxwell
House, Milka, Nabisco, Oreo,
Oscar Mayer, Philadelphia, Tang and
Trident – generate revenue of more than $1 billion annually. On Aug. 4, 2011, Kraft Foods announced plans to
divide and create two independent public companies: a high-growth
global snacks business and a high-margin North American grocery
business. The transaction is expected to be completed before
the end of 2012. A leader in innovation, marketing, health
& wellness and sustainability, Kraft Foods is a member of the
Dow Jones Industrial Average, Standard & Poor's 500, Dow Jones
Sustainability Index and Ethibel Sustainability Index. Visit
kraftfoodscompany.com and facebook.com/kraftfoodscorporate.
Forward-Looking Statements
This press release contains a number of forward-looking
statements. Words, and variations of words, such as "expect,"
"will" and similar expressions are intended to identify our
forward-looking statements, including but not limited to,
expectations for the transfer of our stock exchange listing and the
stock exchange on which Kraft Foods Group, Inc.'s and our common
stock will be listed; our plan to create two industry-leading
public companies; timing of the spin-off; and expectations for the
North American grocery company and for the global snacks
company. These forward-looking statements are subject to a
number of risks and uncertainties, many of which are beyond our
control, which could cause our actual results to differ materially
from those indicated in our forward-looking statements. Such
factors include, but are not limited to, our failure to
successfully separate the company, increased competition and tax
law changes. Please also see our risk factors, as they may be
amended from time to time, set forth in our filings with the SEC,
including our most recently filed Annual Report on Form 10-K and
subsequent reports on Forms 10-Q and 8-K. Kraft Foods
disclaims and does not undertake any obligation to update or revise
any forward-looking statement in this press release, except as
required by applicable law or regulation.
- make today delicious -
SOURCE Kraft Foods Inc.