A Bulgarian subsidiary of French vegetable oil producer Cereol has said that it has agreed to sell its margarine-making unit to Unilever Bulgaria.

Cereol, which is part of the world's largest oilseed processor Bunge, said its recently acquired Bulgarian subsidiary Kaliakra had signed an agreement with the Bulgarian unit of Anglo-Dutch food and consumer products group Unilever concerning the sale of the margarine unit.

Kaliakra recorded turnover of €17m (US$18.4m) in 2001, reported Reuters.