Mondelez offloads some stake in JDE Peet’s at a discount

By Scott Kanowsky 

Investing.com — Shares in JDE Peet’s NV (AS:) slipped down to near the bottom of the pan-European on Thursday after food company Mondelez (NASDAQ:) reportedly completed a sale of 7.7 million shares in the coffee and tea company.

Mondelez offloaded the stake at €26.10 (€1 = $1.0877) per share, which represented around a 6% discount to JDE Peet’s last closing price, according to terms seen by Bloomberg. In total, the share sale is worth approximately about €200M.

At the same time, Bloomberg reported that Mondelez sold call options for an additional about 7.7M shares of JDE Peet’s, or about 1.5% of share capital.

As of April 1, 2022, there were 502.7M shares outstanding in JDE Peet’s, with Mondelez holding the second-largest amount of equity in the business.

In February, JDE Peet’s posted a bigger-than-expected 6% decline in annual core profit, but said it expects to see “low-single-digit” growth in adjusted earnings before interest and taxes in 2023.