Unilever puts off planned Q-Tips sale on insufficient interest from bidders - WSJ
Reuters
Published Nov 10, 2021 13:17
Updated Nov 10, 2021 14:52
(Reuters) -Unilever has shelved the planned sale of ear swabs brand Q-Tips, along with some beauty and personal care brands, as there was not enough interest from bidders, the Wall Street Journal reported on Wednesday.
The consumer goods giant had earlier this year started exploring options for brands such as Q-Tips, Caress, TIGI, Timotei, Impulse and Monsavon after carving them out into a separate business in April.
The sale process of the brands, which had combined revenues of around 600 million euros ($693.84 million) in 2020, could be revived in the future, the WSJ report said, citing a source.
Unilever (LON:ULVR) declined to comment.
The Dove soap owner's decision to explore a sale of some of its businesses comes at a time when the company is facing share price weakness and stiff competition from its rivals in areas of hygiene and packaged food. Its sale of a majority of its tea business is underway.
London-listed shares in Unilever have lost about 11% of their value so far this year. They fell slightly after the report, but pared losses soon after to trade flat by 1254 GMT.
($1 = 0.8648 euros)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.