Kraft Heinz sinks premarket after 3G Capital sells 25M shares

Tuesday, 17. September 2019 13:53

Shares of The Kraft Heinz Co. were in the red in premarket trading on Tuesday, after 3G Capital Partners disclosed yesterday that it sold around 25,068,657 shares in the food company for $28.44 per share, leaving a 20% stake.

Kraft Heinz told StreetInsider that "the sale was driven by periodic liquidity windows by 3G investors in the 3G fund that holds Kraft Heinz stock." 3G Capital said that it has no plan or intention to sell any additional shares.

At 7:47 am ET, Kraft Heinz's stock declined 1.55% in premarket trade on Wall Street.

Related Links: Kraft Heinz Company
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Breaking the News / NI