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Kraft Foods receives IRS clearance for tax-free status of spin-off
date:May 22, 2012
Following the transaction, the North American grocery business will be an independent, public company operating as Kraft Foods Group.


Kraft Foods executive vice president and chief financial officer Dave Brearton said this favorable tax ruling from the IRS is a significant milestone in the spin-off process.


We remain firmly on-track to launch two industry-leading companies before the end of 2012, Brearton added.


In August 2011, Kraft announced its plans to split into two publicly traded co

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