© Reuters. Unilever considering disposal of water purification business
Proactive Investors – Unilever PLC (LON:) is considering disposing of the majority stake in Chinese water purification company Qinyuan Group it bought in 2014, according to a Bloomberg report.
Sources said the sale could value Qinyuan at around $300 million (£236 million), though Unilever has not disclosed the size of its stake
Qinyan was Unilever’s largest Chinese acquisition at the time, doubling the British FMCG conglomerate’s exposure to the water purification market.
The news comes one day after Unilever announced the split-off of its ice cream portfolio – encompassing Ben & Jerrys, Wall’s and Magnum) into a separate entity.
Unilever shares were down 1.4% on Wednesday, following a 3% rally yesterday.
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