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(Bloomberg) -- JAB Holding Co. is seeking as much as $2.4 billion for a 5.4% stake in Keurig Dr. Pepper Inc., according to a person familiar with the matter.

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The conglomerate is offering 73 million shares of KDP for $32.80 to $33 each, the person said, asking not to be identified as the information isn’t public.

JAB will own about 10.7% of the food and beverage company’s outstanding shares after the sale, according to a statement Wednesday.

The KDP stake is being offered at as much as a 2.8% discount to the closing price on Wednesday of $33.74 per share, according to Bloomberg calculations. The price range was reported earlier on Wednesday by The Fly.

A representative for JAB referred Bloomberg News to the statement, while a representative for KDP didn’t immediately respond to a request for comment.

Three members of KDP’s board affiliated with JAB are planning to step down after the offering is completed, the statement shows.

JPMorgan Chase & Co. is leading the share sale, according to the statement.

(Updates with price range in first and second paragraphs.)

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