Unilever
This article was originally published in The Rose Sheet
Executive Summary
In an effort to focus on other business priorities, Unilever has agreed to sell the majority of its European Frozen Foods business to Permira Funds for $2.21 bil. (€1=$1.28), company announces Aug. 18. Subject to regulatory approval and a "consultative process with the relevant employee works councils," the deal is expected to close by the end of the year. Under terms of the transaction, Permira Funds will acquire the firm's Frozen Foods operations in Austria, Belgium, France, Germany, Ireland, Netherlands, Portugal and the UK. The sale is expected to result in an after tax, one-off profit in excess of $1.28 bil. Unilever recently spun off several personal care brands as well, selling its Finesse and Aqua Net hair care brands to Lornamead (1"The Rose Sheet" May 8, 2006, p. 6)...