Business
Keurig Dr Pepper Announces Equity Distribution by Majority Shareholder
Distribution to Increase KDP Public Float by Approximately 10% Over Time JAB and Partners to Collectively Remain a Controlling Shareholder of KDP BURLINGTON,
About this update from Keurig Dr Pepper Inc.
[{"type":"text","content":"Distribution to Increase KDP Public Float by Approximately 10% Over Time\n JAB and Partners to Collectively Remain a Controlling Shareholder of KDP\n\n\nBURLINGTON, Mass. and PLANO, Texas, June 11, 2020 /PRNewswire/ -- Keurig Dr Pepper Inc. (NYSE: KDP) announced today that JAB Holdings B.V. (\"JAB\") has indicated its intention for its majority-owned Maple Holdings B.V. subsidiary (\"Maple\") to convert a portion of the interest of its minority partners into shares of KDP that will become freely tradeable after a lock-up period. JAB and Maple will collectively remain a controlling shareholder of KDP following the distribution.\nTo affect the transaction, Maple intends to distribute approximately 143 million shares of KDP stock that Maple currently holds, representing approximately 10.1% of the outstanding common stock of KDP. The minority partners involved in the transaction are affiliates of BDT Capital Partners (\"BDT\"), affiliates of Quadrant Capital Advisors (\"Quadrant\") and the JAB Consumer Fund. These minority partners have been invested in KDP, through their interests in Maple, since the JAB-led acquisition of Keurig Green Mountain, which was announced in 2015, and will continue to retain stakes in Maple following the distribution. All of the minority partners receiving shares as part of this distribution will be subject to lock-up provisions on the distributed shares for six months on 50% of the shares and 12 months for the remaining distribution. \nFollowing the distribution and lock-up period, JAB and Maple will collectively own 52.6% of KDP, Mondelēz International, Inc. will continue to own 13.1% and the public float will increase to 34.3%, including shares held directly by the minority partners. \nMaple and its affiliates intend to make the required filings with the SEC, including an amendment to Maple's existing Schedule 13D, upon the completion of the distribution.\nInvestors:\nTyson SeelyKeurig Dr PepperT: 781-418-3352 / [email protected] \nSteve AlexanderKeurig Dr PepperT: 972-673-6769 / [email protected] \nMedia:\nKatie GilroyKeurig Dr PepperT: 781-418-3345 / [email protected] \nABOUT KEURIG DR PEPPER Keurig Dr Pepper (KDP) is a leading beverage company in North America, with annual revenue in excess of $11 billion and nearly 26,000 employees. KDP holds leadership positions in soft drinks, speci...