- Keurig Dr Pepper (NYSE:KDP) discloses that JAB Holdings has indicated its intention for its majority-owned Maple Holdings B.V. subsidiary to convert a portion of the interest of its minority partners into directly held shares of KDP stock.
- To affect the equity distribution, Maple intends to distribute approximately 76M shares of KDP stock that Maple currently holds, representing approximately 5.4% of the outstanding common stock of KDP. A portion of the shares will be subject to a six-month lock-up provision.
- Following the distribution and lock-up period, JAB and Maple will collectively own 44% of KDP, Mondelez International (NASDAQ:MDLZ) will continue to own 12% and the public float will increase to 44%, including shares held directly by the minority partners.
- Source: Press Release
- The Seeking Alpha Quant Rating on KDP is flashing Very Bullish.