NORTHFIELD, Ill., Sept. 14, 2012 /PRNewswire/ -- Kraft Foods Inc.
(NASDAQ: KFT) announced today that it expects shares of Kraft Foods
Group, Inc. common stock and Mondelez International, Inc. common
stock ex-distribution to begin trading on a "when-issued" basis on
The NASDAQ Global Select Market on Sept. 17,
2012, under the symbols "KRFTV" and "MDLZV,"
respectively. Kraft Foods Inc. will continue to trade, with
the entitlement to the shares of Kraft Foods Group, Inc. common
stock that will be distributed in the spin-off, on The NASDAQ
Global Select Market under the symbol "KFT."
(http://photos.prnewswire.com/prnh/20090420/KRAFTLOGO)
Kraft Foods Inc. will complete the spin-off of Kraft Foods
Group, Inc. (which will hold the North American grocery business)
at 5 p.m. EDT on Oct. 1, 2012 (the "distribution date") through a
pro rata dividend of all outstanding shares of Kraft Foods Group
common stock it owns to its shareholders of record as of the close
of business on Sept. 19, 2012 (the
"record date"). On the distribution date, each Kraft Foods Inc.
shareholder will receive one share of Kraft Foods Group common
stock for every three shares of Kraft Foods Inc. common stock held
by such shareholder on the record date. Trades made in the
ex-distribution market of Mondelez International, Inc. (under the
ticker symbol "MDLZV") will not carry rights to receive shares of
Kraft Foods Group in the spin-off.
Kraft Foods Group is expected to begin "regular-way" trading on
The NASDAQ Global Select Market on Oct. 2,
2012, under the ticker symbol "KRFT." Kraft Foods Inc.
will be renamed Mondelez International, Inc. and will start
"regular-way" trading on Oct. 2,
2012, on The NASDAQ Global Select Market under the ticker
symbol "MDLZ." The current ticker symbol, "KFT," will be
retired.
The distribution of Kraft Foods Group common stock is subject to
the satisfaction or waiver of certain conditions. Kraft Foods
Inc. and Kraft Foods Group currently expect that all conditions to
the spin-off will be satisfied on or before the distribution
date.
ABOUT KRAFT FOODS
Kraft Foods Inc. (NASDAQ: 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 on
Oct. 1, 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, NASDAQ 100, Dow Jones Sustainability Index and Ethibel
Sustainability Index. Visit www.kraftfoodscompany.com and
www.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, the
completion of the spin-off, timing of "when-issued",
ex-distribution and "regular-way" trading and conditions to
distribution of Kraft Foods Group common stock. 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, continued weakness in economic conditions 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