Buffett defends structure of $23B Heinz dealMay 6, 2013 @ 4:20 am
OMAHA, Neb. (AP) - Investor Warren Buffett says he expects Berkshire Hathaway to own a stake in ketchup-maker H.J. Heinz Co. forever, and he doesn't see a problem in taking a partner _ the Brazilian investment firm 3G Capital _ in the $23.3 billion deal.
Buffett said in an interview on CNBC on Monday that he doesn't consider 3G a traditional private equity firm because it is investing a significant amount of its own money and it runs businesses. Some people had questioned whether the deal that will give Berkshire a 50 percent stake in Heinz represented a change in investment style for Buffett's conglomerate.
Generally Berkshire buys entire companies outright and allows them to continue operating largely unchanged.
Buffett says he hopes Berkshire Hathaway Inc.'s stake in Heinz will grow over time.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
A report some Seahawks think Russell Wilson isn't 'black enough' stirs strong reactions
A judge blocks Pierce County from releasing licenses and IDs of strippers
Background checks and gun rights take center stage at KTTH debate
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.