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South Africa: Unilever ditching its margarine and spreads

By  |  September 24, 2017

Unilever is making good on its promise from earlier this year to exit its spreads and margarine business.

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    The company made the statement after it received an unsolicited takeover bid from Kraft-Heinz in the amount of US$143 billion.

    Unilever is starting its exit in South Africa by way of a trade. The company is buying Remgro’s 25.75% stake with US$370 million in cash as well as Unilever’s margarine and spreads business in South Africa, Botswana, Swaziland and Namibia

    The value of the transaction is reported at US$528 million and is expected to close by the beginning of 2018.

    Full Content: Reuters

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