Unilever Selling Stake In Swedish Beverage Maker
Jan. 17, 1994
ROTTERDAM, Netherlands (AP) _ Unilever, the Anglo-Dutch consumer products conglomerate, announced Monday it is selling its stake in Falcon AB, a Swedish beer and soft drinks joint venture.
Unilever said its 55 percent stake in Falcon AB, with annual sales of about 340 million guilders ($173 million), will be sold to Nordic Capital Svenska AB. It did not disclose the sale price.
Unilever said the sale of its stake, acquired in 1985, will lead to an unspecified extraordinary profit which will be booked in the first quarter of 1994.
The Swedish brewing group Bryggeri AB Falken is the other partner in the joint venture. Unilever will keep its 9.9 percent stake in Bryggeri AB Falken.
Unilever said that expansion in this sector was no longer a priority for its Swedish operations, which include a margarine maker and a bakery products company.
Nordic Capital Svenska AB is a Swedish company that acquires companies through industrial restructuring projects and management buyouts.
The new ownership structure will allow Falcon AB to integrate its sales organization with the production of Bryggeri, Unilever said.
Unilever is one of the world's biggest consumer products companies, with profits of 4 billion guilders ($2.04 billion) on sales of 76.57 billion guilders ($39.06 billion) in 1992, the last year for which figures are available.