Jul 2018 Financial News

Unilever Caribbean Limited - Notice to Shareholders - Disposal of Spreads Business

Jul 20, 2018

As previously announced, on 15th December 2017, Unilever PLC and Unilever N.V. (together, “Unilever”) received a binding offer from Kohlberg Kravis Roberts LP (“KKR”) to purchase Unilever’s global baking, cooking and spreads business (the “Spreads Business”).
 

On 26th April 2018, Unilever Caribbean Limited’s Board of Directors agreed to the sale of the company’s Spreads Business to KKR. On 29th June 2018, Unilever Caribbean Limited approved the consideration for the sale of the company’s Spreads Business for an undisclosed amount. Unilever completed the sale of the Spreads Business to KKR on 2nd July 2018.

The assets being sold by Unilever Caribbean Limited to KKR include production assets and other tangible assets used primarily in relation to the Spreads Business; distribution rights to Spreads products in Trinidad & Tobago and export markets; inventories including all stock; and locally owned intellectual property rights, including the Golden Ray Margarine trademark.

Unilever Caribbean Limited will retain ownership of the site at Champs Fleurs. Unilever has agreed to provide certain services to the Spreads Business for a transitional period.


Source:
The Trinidad and Tobago Stock Exchange Limited
Friday July 20, 2018