Berkshire stake in Wrigley to be more than 10 percent

NEW YORK (Reuters) - Wm Wrigley Jr Co WWY.N said on Monday that billionaire Warren Buffett's Berkshire Hathaway Inc (BRKa.N) will own a minority stake worth more than 10 percent of the gum company, once it becomes a subsidiary of privately held Mars Inc.

During a press conference, Wrigley executives declined to say whether Buffett's involvement in financing Mars' takeover of Wrigley included a premise that Buffett would hold the stake for a particular time or sell it.

However the executives pointed out that Buffett is usually a long-term investor.

Chairman William Wrigley also said the company has not discussed an eventual initial public offering.

(Reporting by Martinne Geller; editing by Jeffrey Benkoe)