Unilever is selling its edible oil business and oil palm plantations, Palmci and PHCI, in Côte d’Ivoire.
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The operations will be sold to SIFCA and a 50:50 joint venture company comprising SIFCA and Wilmar International and Olam International, both based in Singapore.
The deal, which is still subject to approval by the regional authorities, is expected to be completed by the end of 2008.
“The divesture is part of our strategy of increasing focus on core value-added businesses,” a spokesperson for the group told just-food.
Unilever recently announced plans that it is considering selling its Bertolli olive oil business. The company told just-food that it is “too commodity-driven to allow us to add value through innovation”.
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