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Peltz's Trian liquidates $1.14B in Mondelez shares

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Peltz's Trian liquidates $1.14B in Mondelez shares

Trian Fund Management LP sold about $1.14 billion in shares of Mondelez International Inc. in recent weeks, two SEC filings show.

The fund sold the class A common stock on two dates, according to the filings. On Feb. 27, it off-loaded 6,523,275 shares worth about $284.9 million; on March 6, it sold another 19,556,848 shares worth roughly $852.9 million. The March 6 transactions included equity swaps of 1,365,786 shares.

After the Feb. 27 and March 6 transactions, Trian owned 17,772,662 shares of Mondelez.

Neither Trian nor Mondelez immediately responded to questions about the sale from S&P Global Market Intelligence.

The liquidation comes days after Nelson Peltz, Trian's CEO and a founding partner, joined the board of consumer goods giant Procter & Gamble Co. Trian, known for leading activist campaigns as a shareholder, was the central figure in a monthslong fight — and a subsequent dispute over a close shareholder vote — to seat Peltz on P&G's board.

Shares of Mondelez, the maker of Oreo cookies and Cadbury chocolate bars, added 2.9% year-to-date as of March 9.