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GIC said to eye Unilever's margarine unit

Bloomberg Published on Fri, Oct 20, 2017 / 7:27 AM GMT+8

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LONDON (Oct 20): Unilever has received offers for its margarine and spreads unit from bidders including a consortium of Bain Capital and Clayton Dubilier & Rice, according to people familiar with the situation.

A group consisting of Blackstone Group LP and CVC Capital Partners also made an offer for the underperforming spreads business, valued at around 7 billion euros ($8.3 billion), said the people, who asked not to be be identified because the process is confidential. Buyout firm Apollo Global Management has placed a bid alone, they said.

KKR & Co. and Singapore’s sovereign wealth fund GIC also are interested in the asset, the people said. Initial bids were due Thursday.