Unilever Spreads Auction Narrows with Three Funds Left

11/30/17

Private equity firms Apollo (APO.N), KKR (KKR.N) and CVC Capital Partners [CVC.UL] are the final three parties left bidding for Unilever’s (ULVR.L) (UNc.AS) margarine and spreads business, sources familiar with the matter said, as the process moves towards its final round.

Second-round bids for the business, which could be worth more than $7 billion, are due in mid-December, said the sources, who declined to be named as the process is private.

CVC had originally teamed up with Blackstone (BX.N), but is now on its own, the sources said.

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