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Kraft: IRS Confirms Tax-Free Status Of Spinoff

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

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