Berkshire’s Abel to Cut Kraft Heinz Loss in Post-Buffett Era

It took just three weeks for Berkshire Hathaway’s Greg Abel to cut the final tether to one of Warren Buffett’s rare mistakes: The decade-long underperformance of Kraft Heinz Co.

Berkshire is seeking to sell its 28% stake in the packaged foods company, according to a filing, the final step in a separation months in the making. Last May, it ceded its seats on the Kraft Heinz’s board. In August, it took a $3.8 billion impairment charge on its stake to reflect the stock’s steady declines.