Kraft Foods sold one of its pizza division

Kraft Foods Inc. sold one of its pizza division to Nestlé SA, for 3.7 billion USD. With the selling of the business sector, Kraft Foods further improves its bid for British Cadbury Confectionery.

The Swiss Nestlé – that showed interest previously – reaffirmed that they will not make a new offer for Cadbury. However, for the purchase of Cadbury, Hershey Co., is still in competition. Analysts previously did not exclude the possibility of a joint bid with Nestlé – reports tozsdeforum.hu.