Kerry's portfolio could grow with Heinz deal

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Associated Press

Posted on February 14, 2013 at 12:02 PM

Updated Thursday, Feb 14 at 12:03 PM

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

Kerry will divest dozens of holdings, but 2010 financial disclosure forms show at least $3 million in Heinz stock in family trusts benefiting his wife, Teresa Heinz Kerry. She retains those assets under an agreement approved by government ethics officials.

It's not clear whether the trusts sold off Heinz stock before the deal, but the buyout could earn them as much as $1 million, according to an Associated Press analysis.

Buffett's Berkshire Hathaway and 3G Capital will pay $72.50 a share for Heinz, which closed at $60.48 on Wednesday.

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