The spin-off is expected to be completed by the end of June. Post spin-off, the coffee and tea business will be domiciled as a new publicly traded company incorporated in the Netherlands.
Sara Lee executive chairman, Jan Bennink, said: “We are very pleased to reach this major milestone in our spin-off process and to provide our shareholders with additional news about the domiciling of the coffee and tea company and the payment of the $3 dividend.
“With over 250 years of history, the coffee and tea business has solid market positions and deep roots in many European markets. Domiciling coffee and tea in the Netherlands allows management to be close to its key Western European markets and effectively manage its global portfolio.”
Source: Sara Lee
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