UNVR to complete SariWangi divestment, focus on strengthening core business

PT Unilever Indonesia Tbk (UNVR) has completed the divestment of the SariWangi tea business after all transaction documents were signed and full payment was received on Monday, 2 March. UNVR’s Corporate Secretary, Mario Abdi Amrillah, said the sale of the business unit does not have a material impact on the company’s operations, legal aspects, or the group’s business continuity. Mario explained that the divestment move enables the company to realise the value of its investment in the tea business in Indonesia. The proceeds from the transaction will subsequently be returned to shareholders. “Sale of the SariWangi tea business will enable the company to realise the value of its investment in the tea business in Indonesia and return that value to shareholders,” he said. He added that in the short term the company plans to distribute the investment value to shareholders. In the long term, UNVR will focus its strategy on strengthening the remaining core business as part of portfolio optimisation and value enhancement.