Mondelēz International has nodded to sell off part of its stake in Keurig Dr Pepper of total worth of approximately $362.7 million to a financial services organization.

The global snack and confectionery company will sell approximately 12.5 million shares at a price of $29 per share, as a part of this deal in Keurig Dr Pepper.  By the completion of this transaction, Mondelēz will be having 158.2 million shares in the beverage company, which would be about 11.2% of the total.

Reports reveal that the share sale was tagged as an “opportunist sale transaction on the basis of market conditions.”

In 2016, Mondelēz became a minor stakeholder in Keurig Green Mountain post exchanging a part of its share in Jacobs Douwe Egberts for a 24% stake.

In 2018, after the alliance between Keurig Green Mountain and Dr Pepper Snapple, Mondelēz’ existing stake got transformed into a 13-14% share in the collaborated firm. At that instant, Mondelēz declared that it did not desire to invest new and afresh capital into the new organization.

According to the deal, Mondelēz was not permitted to sell any of its existing shares in the newly-established Keurig Dr Pepper for 6 months and was granted the power to nominate two directors for the new company’s Board of Directors.

As the deal gets completed, JAB Holdings will now be owning the remaining, majority shares in Keurig Dr Pepper.

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