By Scott Kanowsky 

Investing.com — Shares in JDE Peet’s NV (AS:) slipped down to close the underside of the pan-European on Thursday after meals firm Mondelez (NASDAQ:) reportedly accomplished a sale of seven.7 million shares within the espresso and tea firm.

Mondelez offloaded the stake at €26.10 (€1 = $1.0877) per share, which represented round a 6% low cost to JDE Peet’s final closing worth, in response to phrases seen by Bloomberg. In whole, the share sale is price roughly about €200M.

On the identical time, Bloomberg reported that Mondelez offered name choices for an extra about 7.7M shares of JDE Peet’s, or about 1.5% of share capital.

As of April 1, 2022, there have been 502.7M shares excellent in JDE Peet’s, with Mondelez holding the second-largest quantity of fairness within the enterprise.

In February, JDE Peet’s posted a bigger-than-expected 6% decline in annual core revenue, however stated it expects to see “low-single-digit” progress in adjusted earnings earlier than curiosity and taxes in 2023.