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
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI