Kraft selling Cadbury’s Romanian unit

By Dow Jones Newswires
Posted July 7, 2010 at 6:01 a.m.

Kraft Foods Inc. reached a deal to sell Cadbury’s Romanian operations to investment fund Oryxa Capital for an undisclosed amount.  The deal — involving the Kandia-Excelent chocolate, soft cake and sugar confectionery business — is the last sale required by European regulators as part of Kraft’s $19 billion purchase earlier this year of Cadbury.

Kraft last week announced the planned sale of Cadbury’s E. Wedel branded chocolate and sugar confectionary operations in Poland to Tokyo-based conglomerate Lotte Group.

About 530 Cadbury Romania employees work for Kandia-Excelent.

Buying Cadbury will allow Kraft to take advantgage of its distribution network in emerging markets such as India and Mexico to sell more Kraft products.

Kraft shares closed at $28.25 Tuesday and didn’t trade premarket. The stock has risen 10 percent the past year.

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