ConAgra Foods (CAG) Completes Sale of Commodity Trading and Merchandising Operations; Adds $500M to Buyback Program
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ConAgra Foods, Inc. (NYSE: CAG) today announced that it has completed the sale of its commodity trading and merchandising operations conducted by ConAgra Trade Group. ConAgra Trade Group was sold to an investor group led by Ospraie Special Opportunities Fund for about $2.8 billion. The purchasing group also includes global growth investor General Atlantic LLC and a private investment fund managed by Soros Fund Management LLC.
Also, ConAgra announced that its Board authorized a $500 million increase in the company's existing share buyback program.
ConAgra Foods, Inc. operates as a packaged food company.
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