Unilever Selling Loders Croklaan 35579

Unilever Selling Loders Croklaan

ROTTERDAM, The Netherlands--Unilever announced Aug. 30 that itwill sell its oils and fats business, Loders Croklaan Group (www.croklaan.com),to IOI Corporation Berhad of Malaysia for 217 million euros (US$212.7 million).Currently, the two companies are awaiting approval for the transaction from theNetherlands-based Works Council and trade unions. Unilever retained DeutscheBank in late April to help it divest the Loders business.

"We are certain that Loders Croklaan's new parent company can furtherdevelop the business by adding strength in raw materials and regional presencein Asia," said Patrick Cescau, Unilever's foods director. "We willcontinue our business relationship making use of Loders Croklaan's innovativecapabilities."

IOI Corp. has companies in Malaysia that involve the refinery, oleochemicalsand property development industries. As of Jan. 18, 2002, the company operated10 oil palm mills, a rubber processing factory, an oil palm refinery and akernel crushing plant. In addition, the group's oleochemical business, which isundertaken by Palmco Holdings Berhad, is the largest oleochemical business inMalaysia.