Mondelez International Inc., formerly Kraft Foods Inc., has completed the previously announced spin-off of its North American grocery business, Kraft Foods Group Inc.
At 5 p.m. (ET) Monday, (the “distribution date”), Mondelez International completed the spin-off by distributing all outstanding shares of Kraft Foods Group common stock that it owned ratably to its shareholders of record as of the close of business on Sept. 19. The distribution was based on a distribution ratio of one share of Kraft Foods Group common stock for every three shares of Mondelez International common stock.
Concurrent with the spin-off, Kraft Foods Inc. changed its name to Mondelez International Inc. Today, Mondelez International began trading on The NASDAQ Global Select Market under the ticker symbol “MDLZ,” and Kraft Foods Group will trade on The NASDAQ Global Select Market under the ticker symbol “KRFT.” The ticker symbol “KFT” has been retired.
Mondelez International will file its separation agreements with Kraft Foods Group and certain pro forma financial information with the U.S. Securities and Exchange Commission (the “SEC”). Go here for additional information regarding the spin-off, including links to filings with the SEC.