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Report: Unilever's margarine biz draws interest from investment funds

Unilever Plc is accepting bids for its margarine division until Oct. 19, with interest mainly coming from investment funds, Retail Detail reported Oct. 9, citing Dutch-language media.

The consumer goods giant put the division up for sale in the spring, and reportedly expects it to fetch between €6 billion and €7 billion.

Investment funds including Blackstone Group LP, CVC Capital Partners and GIC Pvt. Ltd. have expressed interest in making an offer, according to the report.

The company recently agreed to a deal to exchange its spreads business in South Africa for investment holding company Remgro Ltd.'s stake in Unilever's South African unit.