Unilever has agreed to sell its margarine and spreads business to US private equity firm KKR for £6 billion (US$8 billion) to concentrate on faster growing products.
The deal is a result of Unilever’s review of its operations in search of non-core assets, which it initiated earlier this year after rebuffing a US$143 billion takeover approach in February from Kraft Heinz Co.
KKR won in an auction for the business and could finalize a deal as early as this month, according to unnamed sources cited by The Daily Mailx, asking not to be identified because the discussions are confidential.
In November, Unilever said it favored collapsing its dual-headed, Anglo-Dutch structure into a single entity, but delayed a decision of whether it would be based in Britain or the Netherlands, avoiding for now a choice with political dimensions amid ongoing Brexit negotiations.
KKR and Unilever did not immediately respond to requests for comment.
Full Content: The Guardian and Daily Mail
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
US Consumer Watchdog Eyes Expansion of ‘Junk Fee’ Crackdown Ahead of 2024 Election
Oct 10, 2024 by
CPI
Brazil Proposes Reform to Competition Law Targeting Big Tech
Oct 10, 2024 by
CPI
Meta Enhances User Data Control, Resolving German Antitrust Dispute
Oct 10, 2024 by
CPI
X May Be Excluded from EU’s Strict Tech Rules, Sources Suggest
Oct 10, 2024 by
CPI
G7 Targets Competitive Imbalances in Semiconductor Industry
Oct 10, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh