Cereal Sale to Net RJR Nabisco $350...
From Times Staff and Wire Reports
Cereal Sale to Net RJR Nabisco $350 Million: RJR Nabisco Inc. said the completed $450-million sale of its cold cereals business to Kraft General Foods will net RJR $350 million after taxes and will be reflected in RJR’s fourth-quarter 1992 results as a $98-million pretax gain. The company said it will also take a pretax charge of about $105 million to restructure domestic food and tobacco units. The combined after-tax result will reduce fourth-quarter income by about $36 million, or 3 cents per share, the company said. In the cereal sale, Nabisco’s Shredded Wheat, Spoon-Sized Shredded Wheat and Shreddies will join Kraft cereals under the Post brand.
