Unilever Plans Asset Divestment With Value Reaches Rp2,914 Trillion
By : Hariyanto And Aldi Firhand. A | Wednesday, May 16 2018 - 22:04 IWST
PT Unilever Indonesia (Foto Dok Industry.co.id)
INDUSTRY.co.id - PT Unilever Indonesia Tbk (UNVR) plans to sell assets from the baking, cooking and spreads category, which is estimated at Rp2.914 trillion.
Based on a brief prospectus published Wednesday, sales of assets of this category include the sale of intangible assets including but not limited to the right to distribute products using the Frytol, Blue Band Master and Blue Band global trademarks and brands local trading of Samin Oil and Blue Bland Gold.
Furthermore, the sale of tangible assets includes but is not limited to the production, equipment, supplies, and merchandise assets. Subsequently, the lease of part of the Cikarang plant and land used for the operation of the Spreads category assets, as well as the sale of their local trade, to Sigma Bidco B.V or its affiliates in Indonesia.
Due to the total value of asset sales from the Spreads category, which is a material transaction, requiring approval of the General Regular GMS.
The Company has a license agreement with Unilever N.V. for the use of various global brands in Indonesia owned by Unilever N.V. including global trademarks.
Under the license agreement, Unilever N.V. may at any time increase or decrease the global brand that can be used by the Company in Indonesia. In addition, as part of the Unilever Group which has operations around the world, the company always aligns the strategy and global policies of the Unilever Group for the brands that are commercialized by companies in Indonesia.
On December 15, 2017, Unilever N.V. and Unilever Plc received binding offers from Sigma Bidco B.V., in connection with the purchase of the global spreadsheet business of the Unilever Group, including the assets of the Spreads category in Indonesia owned by the company.
By separating the assets of the Spreads category, the company will focus more on Home and Personal Care products and Foods and Refreshments in accordance with the company's long term growth plan and Unilever Group.
Unilever N.V., Unilever Plc and Sigma Bidco B.V. will sign the Share and Business Sale Agreement relating to the sale and purchase of companies and businesses that are part of Unilever Group's global Baking, Cooking and Spreads business.
In relation to the sale, Company will enter into a transfer agreement with Sigma Bidco B.V. or its affiliates in Indonesia or in other jurisdictions for part of the Spreads business in Indonesia. (imq)