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Fly News Breaks for July 2, 2015
MDLZ
Jul 2, 2015 | 07:25 EDT
Mondelēz and D.E Master Blenders 1753 have completed the transactions to combine their respective coffee businesses, including Mondelēz International's coffee portfolio in France, to create Jacobs Douwe Egberts, which will be a pure-play coffee company with annual revenues of more than EUR5B. Upon closing, Mondelēz received cash of approximately EUR3.8B and a 44% interest in the new joint venture. The new company will be based in the Netherlands and hold positions in 18 countries. The cash-and-equity consideration paid to Mondelēz International was reduced proportionally from previous estimates to reflect Mondelēz International retaining its interest in its Korea-based joint venture, Dongsuh Foods Corporation.
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