HSBC named FA for Dalda
KARACHI (March 31 2004): Unilever Pakistan (UP) has appointed HSBC as financial advisors to sell their edible oil business along with assets and brand "Dalda."
According to HSBC/Unilever press release issued here on Monday, March 29, the process started in January 2004 where 16 parties showed interest in the business and confidential information memorandum was issued to them. Out of these 12 parties participated in non-bidding bid.
After intensive and transparent evaluation six parties were selected and due diligence and negotiation are in progress.
The parties involved in final negotiation are representing Fauji Foundation, Habib Oil Group, Soya Supreme Group, Unilever Employee Welfare Group, Savola Group (Saudi Arabia) and Candyland Group.
The above parties have showed keen interest and by the end of April the deal should be finalised.-
PR
Copyright Business Recorder, 2004
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