In a filing with the regulator, Kraft Foods Inc. (KFT) disclosed that its subsidiaries, on March 1, 2010, completed the sale of the assets of frozen pizza products and certain related frozen food products business to Nestle USA, Inc.
Kraft specified that it expects earnings to be reduced by approximately $0.05 per diluted share on an annual basis as a result of this transaction, also assuming combination of debt reduction and share repurchases.
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