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BRIEF-Remgro says ‍proposed disposal of 25.75% shareholding in Unilever SA
September 22, 2017 / 1:39 PM / 3 months ago

BRIEF-Remgro says ‍proposed disposal of 25.75% shareholding in Unilever SA

Sept 22 (Reuters) - REMGRO LTD:

* ‍PROPOSED DISPOSAL OF 25.75% SHAREHOLDING IN UNILEVER SA AND ACQUISITION OF SOUTHERN AFRICA SPREADS PORTFOLIO​

* ‍DEAL‘S CONSIDERATION OF ZAR 11.9 BILLION​

* ROBERTSONS HOLDINGS PROPRIETARY HAS ENTERED INTO AGREEMENT WITH UNILEVER PLC GROUP OF COMPANIES

* EXPECTED CLOSING DATE OF TRANSACTION IS IN Q1 OF 2018

* CASH PROCEEDS WILL BE USED BY REMGRO FOR INVESTMENT AND/OR CAPITAL MANAGEMENT PURPOSES

* REMGRO - ‍PRIOR TO COMPLETION, CO WILL RECEIVE FINAL DIVIDEND FROM UNILEVER SA FY 2017 AND A PROPORTIONAL DIVIDEND IN RESPECT OF FY 2018​

* REMGRO - AGREEMENT WHEREBY CO‘S HOLDING OF 25.75% IN UNILEVER SOUTH AFRICA WILL BE EXCHANGED FOR FULL OWNERSHIP OF UNILEVER SPREADS BUSINESS IN SOUTHERN AFRICA

* REMGRO NOMINATED DIRECTOR J J DU TOIT WILL RESIGN FROM UNILEVER SA BOARD WHEN TRANSACTION BECOMES EFFECTIVE Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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