Unilever Hopes To Sell Margarines-Spreads Unit By End Of Year

Reuters reports that Unilever CFO Graeme Pitkethly expects to shed the margarine and spreads business by the end of the year via an auction that would take place in the fall. The decision to divest margarines and spreads was taken after Kraft-Heinz launched an unsuccessful takeover bid last February. Pitkethly said if the company doesn’t get its asking price it will move to “demerge” the business, which could take longer. Sources told Reuters the sale could net $7.6 billion.