PARIS — Unilever P.L.C. has set a timeline for entering into negotiations with potential buyers of its Baking, Cooking and Spreads business unit this fall and having a deal agreed upon by the end of the year, said Graeme David Pitkethly, chief financial officer, during a presentation June 15 at the Deutsche Bank Global Consumer Conference. The company announced this past April that it would be divesting the business unit.
|Graeme David Pitkethly, c.f.o. of Unilever|
“It really is the right time now to exit from spreads,” Mr. Pitkethly said. “Having increased the cash profit that the business generated by €80 million last year, we’re in the process of setting the deal parameters … (and) producing the full set of carved-out financial data to enable a really solid and professional sales process.”