Kraft Foods has purchased 1.4m of its shares from parent group Altria for a total of US$46.5m, or about $32.09 per share.
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In a filing with the US Securities and Exchange Commission the food company said that the purchase came in anticipation of the food group’s spin-off from Altria. Kraft is due to be separated from its parent company at the end of the month.
The per share price represented the average of Kraft’s high and low price on 1 March, when the transaction was completed.
