Kraft Foods Entity Holdings B.V., the largest producer of packaged food, has announced its plans to use the squeeze-out right and buy shares from minority shareholders in private joint-stock company Mondelez Ukraine. According to a company report in the information disclosure system of the National Commission for Securities and the Stock Market, as of March 22, 2018 Kraft Foods owned 99.94% of shares in the company and plans to send letters about the squeeze-out to minority shareholders.
As reported, amendments introduced in 2017 to some legal acts in Ukraine to facilitate corporate management at joint-stock companies have introduced such procedures as squeeze-out and sell-out (the forced purchase and sale of participation in share capital) to the country’s legislative environment.
Mondelez Ukraine is part of Mondelez International group of companies, one of the world’s largest producers of chocolate goods, cookies, sweets, and chewing gum. The company in Ukraine includes Trostianets confectionery factory (Sumy region) and Chips Lux LLC subsidiary company (Kyiv region). Kraft Foods Entity Holdings B.V. operates as a subsidiary of Mondelez International.
