Shares of Kraft Heinz, in which billionaire Warren Buffett’s Berkshire Hathaway Inc and Brazilian private equity firm 3G own major stakes, fell about 4%. Chicago-based Kraft Heinz, which last year took a $15.4 billion writedown of key brands including Oscar Mayer hot dogs, has been struggling to grow sales as consumers shift to healthier options and private-label brands. “Following Kraft’s commentary around 2020 operating headwinds and its commitment to maintain its dividend, Fitch estimates the company may need to divest up to 20% of its projected 2020 EBITDA to support debt reduction,” the agency said. …read more
Source:: Yahoo Finance
