Mondelez Sold Remainder Of Keurig Dr Pepper Investment, About 23M Shares, And Received About $704M In Proceeds
Portfolio Pulse from Benzinga Newsdesk
Mondelez International has sold its remaining investment in Keurig Dr Pepper, approximately 23 million shares, and received about $704 million in proceeds, according to an SEC filing.
July 27, 2023 | 8:33 pm
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NEUTRAL IMPACT
Mondelez has sold its remaining shares in Keurig Dr Pepper.
The sale of Mondelez's remaining shares in Keurig Dr Pepper is a significant equity action, but it's unclear how this will affect Keurig Dr Pepper's stock price in the short term. The impact will depend on factors such as who bought the shares and market reaction to the sale.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Mondelez has sold its remaining shares in Keurig Dr Pepper, receiving about $704 million in proceeds.
Mondelez's sale of its remaining shares in Keurig Dr Pepper is a significant equity action, but it's unclear how this will affect its stock price in the short term. The proceeds could be used for various purposes, such as reinvestment or debt reduction, which could have different impacts on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100