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Friday, July 11, 2014

Mondelez to separate cheese, grocery business in Europe - Bloomberg, (NASDAQ: MDLZ)

Oreo cookies maker Mondelez International Inc is separating its European cheese and grocery business into a standalone entity in a move that could lead to a sale or spinoff, Bloomberg reported, citing a source. The creation of this unit, which has about $1.4 billion in sales, comes at a time when the company is shifting its focus to faster-growing snack brands, the source with knowledge of Mondelez's deliberations told Bloomberg. ( could not be immediately reached for comment.

Mondelez International, Inc. (Mondelez International) is a snack manufacturing company. Shares of MDLZ traded higher by 1.49% or $0.565/share to $38.56. In the past year, the shares have traded as low as $29.75 and as high as $38.47. On average, 7611470 shares of MDLZ exchange hands on a given day and today's volume is recorded at 9747592.