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Unilever completes sale of North American laundry business

September 11, 2008
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Unilever announced that it has completed the sale of its North American laundry business in the U.S., Canada and Puerto Rico to Vestar Capital Partners. Vestar, a leading global private equity firm, will merge the business with its existing operation, Huish Detergents Inc., to form a new company-The Sun Products Corporation. Unilever has received an aggregate consideration of approximately $1.45 billion, consisting of approximately $1.075 billion in cash, preferred shares in Sun Products with a face value of $375 million, and warrants offering the opportunity to acquire up to 2.5% of the common equity of Sun Products. The sale is part of Unilever’s previously announced plans to dispose of non-strategic brands with collectively more than €2 billion in turnover.

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