KFT Mondelez International, Inc. (MM)

Kraft Foods Inc. (KFT) said Friday that the Internal Revenue Service has provided a favorable ruling confirming the tax-free status of its planned North American grocery spinoff.

"This favorable tax ruling from the IRS is a significant milestone in the spinoff process," said Dave Brearton, Kraft's chief financial officer. "We remain firmly on track to launch two industry-leading companies before the end of 2012."

-By Greg Morcroft; 415-439-6400; AskNewswires@dowjones.com

Order free Annual Report for Kraft Foods, Inc.

Visit http://djnewswires.ar.wilink.com/?link=KFT or call 1-888-301-0513