NORTHFIELD (ILLINOIS) (dpa-AFX) - Kraft Foods Inc. (KFT) Monday said the North American grocery business of subsidiary Kraft Foods Group Inc. filed an initial Form 10 registration statement with the U.S. Securities & Exchange Commission.
The filing relates to Kraft's previously announced plan to split itself into two public companies. The world's second largest food company last year had said it would split into two independent public companies - global snacks business and North American grocery business - by 2012-end.
'The filing of the Form 10 Registration Statement is an important step in the process of establishing the North American grocery business as a new, stand-alone company with its own strategic focus and priorities,' said Chairman and CEO Irene Rosenfeld.
Kraft Foods plans to spin-off its North American grocery business through a tax-free distribution of shares to shareholders. After the spin-offs, North American grocery company will become Kraft Foods Group Inc., retaining the Kraft brand for its corporate identity.
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