Business

Unilever prepares 6 billion pound sale of food brands: newspapers

Published: 7:00 AM, March 19, 2017

LONDON - Unilever <ULVR.L> <UNc.AS> is preparing a 6 billion pound ($7.44 billion) sale of some of its food brands, British newspapers reported on Saturday, without citing sources.

The Anglo-Dutch company is planning to sell Flora margarine and Stork butter brands, the Sunday Times said. The Sunday Telegraph, which also cited a 6 billion pounds figure, said unnamed parties were preparing to buy the brands.

The maker of Knorr soups, Dove soap and Ben & Jerry's ice cream rebuffed a surprise $143 billion takeover offer from Kraft Heinz <KHC.O> last month.

The company has launched a business review to consider returning cash to shareholders, making medium-sized acquisitions and more aggressive cost cuts, the Financial Times reported on Wednesday. REUTERS