Unilever Pakistan has informed the bourses on Monday that its review of the 'Edible Oils Business' is continuing and no final decision has been taken yet.
To date, the company has received several initial non-binding offers for its edible oils business.
According to press release here, the company has confirmed that for a more informed evaluation, selected parties were given access to financial, manufacturing and marketing information relating to the edible oils business under confidential agreements.
The company expects that concrete offers would be forthcoming from the interested parties.
Unilever Pakistan will consider these offers as part of its review of the edible oils business.
This process is expected to complete in the next two-to-three months. The edible oils business uses the 'Dalda' brand name that is licensed to Unilever Pakistan by its parent company Unilever Plc.
In the event of a decision being taken upon review to sell the edible oils business, Unilever Pakistan will seek its shareholders approval at an extraordinary general meeting.
According to Unilever Pakistan, the interests of partners, shareholders and employees of the edible oils business will remain an important factor in the review process.
Over the last few years, the Unilever has internationally divested most of its edible oil businesses.
The company remains committed to focus on its core businesses in Pakistan, which are vital for its long-term future in this country.-PR