Unilever To Sell Findus Italy To Birds Eye Iglo For EUR805M

19th Jul 2010 09:20

LONDON (Dow Jones)--Unilever PLC (ULVR.LN), the consumer goods firm whose products include Wall's ice cream, Dove, Lynx, Surf and Domestos, said Monday it has signed a binding agreement to sell its Italian Frozen Foods business, Findus to a company in which Birds Eye Iglo has a significant stake, for EUR805 million. MAIN FACTS: -Transaction includes the sale of the Italian Findus business, comprising the following brands: 4 Salti in Padella, Sofficini, Capitan Findus and That's Amore, and a dedicated factory in Cisterna, Italy. -As part of the agreement, 650 factory and head office employees will transfer. -Sales of Findus Italy were EUR462 million in 2009. -The transaction is subject to relevant E.U. anti-trust regulatory approvals. -Unilever shares in London at 0815 GMT up 11 pence, or 0.6%, at 1893 pence valuing the company at GBP24.28 billion. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [email protected] (END) Dow Jones Newswires July 19, 2010 04:20 ET (08:20 GMT)