By Scott Kanowsky
Investing.com -- Shares in JDE Peet's NV (AS:JDEP) slipped down to near the bottom of the pan-European Stoxx 600 on Thursday after food company Mondelez (NASDAQ:MDLZ) 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.