Unilever Portugal restructures foods business
15/12/2004 : Unilever today announced that it will be restructuring its Portuguese foods business with its current joint venture partner, Jerónimo Martins Group.
Until now, Unilever Portugal has held a 40% stake in the FimaVG foods business, a joint venture with Jerónimo Martins Group, in addition to its wholly owned Bestfoods business acquired in 2000.
The deal sees the two foods businesses - FimaVG and Unilever Bestfoods Portugal - unified and the joint venture stakes re-balanced so that Unilever will subsequently hold 49% of the combined foods business and Jerónimo Martins Group 51%. Unilever receives approximately €80m as a result of the deal.
The deal is subject to regulatory approval.
UK (Home):
UK - Home & personal care
3 St. James's Road
Kingston-upon-Thames
Surrey KT1 2BA
T: +44 (0) 20 8439 6176
F: +44 (0) 20 8439 6620
