Unilever to sell its spreads business to KKR for 6.83b euros
Deal is a step towards former becoming a faster-growth firm and is likely to close in mid-2018
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London
UNILEVER has agreed to sell its margarine and spreads business to US private equity firm KKR for 6.83 billion euros (S$10.8 billion) to concentrate on faster-growing products.
The maker of Knorr soup and Dove soap announced the deal on Friday, hours after Reuters reported that KKR had entered into exclusive talks to buy the shrinking business after outbidding rivals.
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