Berkshire Hathaway Faces $3.8 Billion Loss Tied to Kraft Heinz Stake
Warren Buffett‘s Berkshire Hathaway Inc. (NYSE:BRK) has reported a $3.8 billion impairment on its stake in Kraft Heinz Co. (NASDAQ:KHC), marking a significant setback for the billionaire investor.What Happened: Berkshire Hathaway has reduced the carrying value of its Kraft Heinz investment to $8.4 billion, a significant drop from over $17 billion at the end of 2017. This marks a rare disappointment for Buffett, who played a key role in the merger of Kraft and Heinz about a decade ago, reports Bloomberg. The stock of the packaged foods giant has plummeted 62% since the merger, ...Full story available on Benzinga.com
