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Unilever disposes of oils business and plantation interests and acquires regional soap business

Pierre Perrin-Monlouis Dernière mise à jour: 20 octobre 2021

Unilever has completed the sale of its edible oil business in Côte d’Ivoire together with its interests in local oil palm plantations, Palmci and PHCI. At the same time it has acquired the soap business of Cosmivoire, an Ivorian producer with a market presence throughout Francophone West Africa.

Cosmivoire is a subsidiary of SIFCA, the parent company of an Ivorian agro-industry group. The acquisition strengthens Unilever’s consumer business position both in the sub-region and in Côte d’Ivoire.

The plantations interests and the edible oils business have been sold to SIFCA and to a 50:50 joint venture between two Singapore-based companies, Wilmar International Limited and Olam International Limited.

Wilmar is the world’s largest palm-oil processor and OLAM is a leading global supply chain manager of agricultural products with extensive operations across Africa. Their experience and expertise will greatly increase the competitiveness of the palm oil industry both in the sub-region and in Côte d’Ivoire.

Diego Bevilacqua, Group Vice President for Africa, Middle East & Turkey, says: “This deal is absolutely in line with Unilever’s strategy. It will allow us to focus our future efforts and investments in Francophone West Africa on two of Unilever’s core categories, Skin Cleansing and Laundry. At the same time we are pleased to have been able to bring together partners for whom the palm plantations and oils business constitute the core of their business, and will bring value to those categories in Cote d’Ivoire.”

— Ends —

4th December, 2008

SAFE HARBOUR STATEMENT: This announcement may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as ‘expects’, ‘anticipates’, ‘intends’ or the negative of these terms and other similar expressions of future performance or results and their negatives are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including, among others, competitive pricing and activities, consumption levels, costs, the ability to maintain and manage key customer relationships and supply chain sources, currency values, interest rates, the ability to integrate acquisitions and complete planned divestitures, physical risks, environmental risks, the ability to manage regulatory, tax and legal matters and resolve pending matters within current estimates, legislative, fiscal and regulatory developments, political, economic and social conditions in the geographic markets where the Group operates and new or changed priorities of the Boards. Further details of potential risks and uncertainties affecting the Group are described in the Group’s filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including the Annual Report & Accounts on Form 20-F. These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

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Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.