Kerry portfolio may grow due to Heinz buyout

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Posted: Thursday, February 14, 2013 12:00 am

WASHINGTON (AP) — Secretary of State John Kerry's family financial portfolio could grow by hundreds of thousands of dollars as a result of the $23 billion mega-deal between Omaha billionaire Warren Buffett and a Brazil-owned investment firm to buy out ketchup and food producer H.J. Heinz Co.

Kerry, as part of his confirmation last month, agreed to divest holdings in dozens of companies after leaving his Massachusetts Senate seat.

But Kerry's wife, Teresa Heinz Kerry, held at least $3 million in Heinz stock through family trusts as of 2010, according to his most recent financial disclosure form. She was allowed to keep those assets under a January agreement approved by government ethics officials.

Kerry did not file an updated financial disclosure before his confirmation, so it is not clear whether his wife's trusts sold off any of the Heinz stock since 2010.

But based on the Kerrys' known Heinz stock holdings of about $3 million and the stock's $49.46 per share value at the end of 2010, the couple could have reaped as much as $1 million from the terms of the offer from Berkshire and 3G Capital Inc, according to an Associated Press analysis.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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