UNVR – Divests ice cream business for IDR7 tn

UNVR – Divests ice cream business for IDR7 tn Unilever Indonesia (UNVR) has secured IDR7 tn from divesting its ice cream business to The Magnum Ice Cream Indonesia through a Business Transfer Agreement (BTA) signed on November 22, 2024. The transaction value, representing 204% of UNVR’s equity, includes fixed assets, inventory, and a fair market valuation of IDR6.57 tn by Suwendho Rinaldy and Partners, making it a material transaction under OJK Regulation No. 17/POJK.04/2020. The divestment aligns with Unilever Group’s global strategy to separate its ice cream business, allowing UNVR to realize and return investment value to shareholders while refocusing on its core business. Initially, the buyer was an affiliate of UNVR under Unilever PLC, but by the transaction’s completion, this affiliation no longer existed. Shareholders’ approval will be sought at upcoming General and Independent General Shareholders Meetings to finalize the plan. This move aims to enhance long-term shareholder value while capitalizing on the strategic realignment. (Source: Emiten News)