Tuesday, June 27, 2017

Unilever prepares $7.44 billion sale of food brands: newspapers

  • >> Reuters
    Published: 2017-03-19 11:10:40 BdST

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The company logo for Unilever is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, US, Feb 17, 2017. Reuters

Unilever is preparing a $7.44 billion sale of some of its food brands, British newspapers reported on Saturday.

The Anglo-Dutch company is planning to sell Flora margarine and Stork butter brands, the Sunday Times said.

The Sunday Telegraph, which also cited a 6 billion pounds figure, cited sources as saying private equity firms Bain Capital, CVC and Clayton Dubilier and Rice have started working on offers for the "spreads" business, citing sources.

Unilever did not immediately respond to a Reuters request for comment.

The maker of Knorr soups, Dove soap and Ben & Jerry's ice cream rebuffed a surprise $143 billion takeover offer from Kraft Heinz last month.

The company has launched a business review to consider returning cash to shareholders, making medium-sized acquisitions and more aggressive cost cuts, the Financial Times reported on Wednesday.