Kraft Foods will complete the spin-off of its North American grocery business on 1 October through a pro rata dividend of all outstanding shares of Kraft Foods Group common stock it owns to its shareholders of record as of the close of business on 19 September.
Kraft Foods Inc. has received a private letter ruling from the US Internal Revenue Service and an opinion of tax counsel confirming that the distribution of shares of Kraft Foods Group common stock generally will not be taxable to Kraft Foods or US holders of Kraft Foods common stock.
Source: Kraft Foods
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