The American company WK Kellogg’s acquired the Italian company Ferrero in a transaction valued at $3.1 billion.

With this commercial strategy, “Ferrero joins a massive portfolio of existing brands in North America, including Butterfinger, Keebler, Famous Amos, Jelly Belly, NERDS, Trolli, Blue Bunny, Bomb Pop, and Halo Top,” according to Forbes USA.

Upon completion of the transaction, which awaits WK Kellogg’s shareholder and regulatory approval, in addition to other customary closing conditions, the company’s common stock will cease trading on the New York Stock Exchange and the company will become a wholly owned subsidiary of Ferrero.

According to Forbes USA, the transaction includes the “manufacturing, marketing, and distribution of WK Kellogg’s breakfast cereal portfolio in the United States, Canada, and the Caribbean.”

Giovanni Ferrero, CEO of the Ferrero Group, stated regarding the purchase of the cereal brand: “This is more than just an acquisition; it represents the union of two companies, each with a proud legacy and generations of loyal customers.”

M.Pino

Source: forbes

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The Italian company Eni is maintaining dialogue with the United States regarding restrictions on its activity in Venezuela. However, in this process, the company will continue producing gas in the Latin American country.

The energy sector firm appointed Claudio Descalzi as its delegate for these negotiations with the Donald Trump administration. The official confirmed this Tuesday, April 8, that the Italian group “will continue producing gas in Venezuela so as not to create a social crisis” while finding a solution to the bans imposed by the United States.

They reaffirmed that their activity in Venezuela is not oil production but gas. Descalzi added: “As you know, we produce only for the domestic market, since it goes to families. Therefore, always respecting the regulations and sanctions, we are working with the US authorities to obtain an exemption; the contract allows it.”

He emphasized that Eni cannot stop gas production “because we are the only ones producing gas for Venezuela, and if we stop production, we would create a social crisis, which means we won’t get paid as usual.”

M.Pino

Source: elnacional

(Reference image source: Ilse Driessen on Unsplash)

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La entrada Eni to continue gas production in Venezuela apareció primero en Bitfinance.