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South Africa: Unilever ditching its margarine and spreads

 |  September 24, 2017

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

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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