Unilever (UL) has started initial talks with buyout firms about a potential sale of its ice cream unit, which is home to brands like Ben & Jerry’s and Magnum and could be worth up to $19.4B, Bloomberg’s Swetha Gopinath and Dinesh Nair reports. According to people familiar with the matter, private equity firms Blackstone (BX), Advent International, Cinven and CVC Capital Partners are among those that have shown preliminary interest, while KKR (KKR) and Clayton Dubilier & Rice have also been studying the Unilever division. A formal sale process is likely to start in the second half of the year, the people say.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UL:
- A.O. Smith to acquire Pureit from Unilever for $120M in cash
- Job Cuts Planned to Strike Unilever’s (NYSE:UL) Operations
- Playtex maker ticks lower after UC Berkeley study on tampon toxins
- Arsenic and lead found in study measuring toxic metals in tampons
- Unilever price target raised to 4,000 GBp from 3,700 GBp at Jefferies