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Letter D Cufflinks

(Reuters) – Campbell Soup Co said on Friday it would sell its Bolthouse Farms business to an affiliate of private equity firm Butterfly Equity for $510 million, in the U.S. food company’s first major sale as part of its plan to reduce debt. With the completion of deal, expected by July 2019, Campbell will have divested its entire fresh division, it said. In February, it agreed to sell salsa maker Garden Fresh Gourmet to a unit of Fountain of Health USA, which makes hummus, dips and prepared salads boss rusty cufflinks.

Butterfly said its operating partner Jeff Dunn will take the role of chief executive officer at Bolthouse Farms, where he previously served as president and CEO between 2008 and 2015. Campbell bought Bolthouse, known for its fruit juices and packaged carrots, in 2012 for about $1.55 billion in a push to add healthier products to its portfolio boss rusty cufflinks. The business, however, has struggled in recent years, with issues ranging from farming missteps to the recall of 3.8 million bottles of protein shakes due to possible spoilage..

The fresh food unit along with Campbell’s international business, has been up for sale since August after the company was pressured by investors to boost its profitability and stock performance boss rusty cufflinks. “The sale of Bolthouse Farms supports our strategy to focus on our two core North American businesses, Campbell Snacks and Campbell Meals and Beverages,” CEO Mark Clouse said. The packaged foods maker said the proceeds from deal would help reduce debt by about $570 million and that the transaction is not expected to impact the company’s fiscal 2019 forecast..

(Reuters) – General Electric Co will pay a $1.5 billion civil fine to resolve a long-running U.S. probe into defective subprime mortgages from its former WMC Mortgage unit prior to the 2008 global financial crisis. The U.S boss rusty cufflinks. Department of Justice on Friday said the accord resolves claims that GE concealed the poor quality of the loans and WMC’s lax fraud controls when packaging the loans into residential mortgage-backed securities sold to investors. GE did not admit any wrongdoing in the settlement..

WMC was acquired by GE’s finance unit, General Electric Capital Corp, in 2004, and originated more than $65 billion of mortgage loans in the next three years. The Justice Department said WMC overstated the quality of a majority of loans it packaged into residential mortgage-backed securities, and its fraudulent practices resulted in billions of dollars of investor losses boss rusty cufflinks. Boston-based GE in January had announced an agreement in principle for the settlement and already set aside $1.5 billion. GE sold WMC in late 2007..