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Monday, November 10, 2014

Mondelez to purchase 80 percent of Vietnam's Kinh Do Corp's snack business, (NASDAQ: MDLZ)

Mondelez International Inc said on Tuesday it will pay $370 million to purchase an 80 percent stake in Vietnamese company Kinh Do Corp's snack business. Mondelez, based in Deerfield, Illinois, already has a small presence in Vietnam selling some of its Oreo, Ritz and Cadbury products.Mondelez will acquire two Kinh Do manufacturing facilities, as well as Kinh Do's distribution network.The deal will allow Mondelez to build scale. Kinh Do is Vietnam's biggest confectionary producer and makes products such as Cosy biscuits and Solite soft cakes.Vietnam has a growing middle class, and 60 percent of the population is under 30 years old, presenting an opportunity to attract younger generations to Mondelez products.

Mondelez International, Inc. (Mondelez International) is a snack manufacturing company. Shares of MDLZ traded higher by 0.37% or $0.14/share to $37.90. In the past year, the shares have traded as low as $31.83 and as high as $39.54. On average, 7566460 shares of MDLZ exchange hands on a given day and today's volume is recorded at 8769912.