Unilever plans to sell margarine division

AMSTERDAM: Dutch-British consumer products giant Unilever said on Thursday it is selling off its under-performing margarine division, just weeks after spurning a takeover bid by US rival Kraft-Heinz. Unilever is also planning to boost dividends this year by 12 per cent, and will launch a shares buy-back of some five billion euros ($5.3 billion) by Dec.
“After a long history in Unilever, we have decided that the future of the spreads business now lies outside the group,” chief executive Paul Polman said in a statement. The move came amid a company review launched in the wake of February’s surprise takeover bid by US food and beverage giant Kraft-Heinz. — AFP