UPDATE 7-Heinz deal for Kraft expands food larder for Buffett, 3G
(Adds details on deal value)
* Kraft brands have opportunity to expand overseas
* Kraft shareholders to hold 49 pct of Kraft Heinz Co
* Buffett's Berkshire Hathaway to own over 320 mln shares
* Buffett: "We will be in the stock forever"
* Deal unlikely to face regulatory hurdles
By Anjali Athavaley and Sruthi Ramakrishnan
March 25 (Reuters) - Ketchup maker H.J. Heinz Co, backed by Warren Buffett's Berkshire Hathaway Inc and Brazilian private equity firm 3G Capital, will combine with Kraft Foods Group Inc in a $46 billion deal to create the third-largest North American food company, executives said on Wednesday.
Shares of Kraft, known for its namesake macaroni and cheese in a box, as well as Velveeta, Maxwell House coffee and Oscar Mayer processed meats, closed up nearly 36 percent at $83.17. Continued...