Reimann-Linked Firm Sells $1.1 Billion in Keurig
Billionaire Clan Behind JAB to Sell $1.1 Billion in Keurig Stock
(Bloomberg) -- Maple Holdings BV, a Netherlands-based firm connected to the billionaire Reimann family through investment firm JAB Holdings BV, is offering 40 million shares of Keurig Dr Pepper Inc. -- or about 3% of the outstanding shares -- for $1.1 billion, according to a filing.
Most of the proceeds will go to investors in Maple Holdings besides the Reimann family or JAB, a spokesman for JAB said, declining to name the investors.
JAB directly purchased almost a fifth of the shares being offered. Goldman Sachs Group Inc. is underwriting the transaction.
“Maple may distribute the proceeds of the offering to its members or otherwise redeem interests of its members from time to time, including JAB,” Keurig Dr Pepper said in a statement Thursday. “Maple and JAB collectively intend to remain a controlling shareholder in KDP.”
The move comes as JAB plans to raise as much as 2 billion euros ($2.2 billion) by listing its coffee business.
Shares of Keurig Dr Pepper Inc. have fallen 7.2% this year.
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