USA: Kraft nears acquisition of Jugos Del Valle
Mexican juice maker Jugos del Valle said today [Tuesday] it has reached a non-binding agreement with Kraft Foods Inc to sell up to 100% of the company. In a filing to the Mexican Stock Exchange, Jugos del Valle, Mexico's second largest juice company, said that its majority shareholders are still in negotiations with Kraft over price. Kraft is due to undertake a due diligence review, and the deal is also subject to approval from competition authorities and the boards of both companies. Kraft's due diligence process could take two months.
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