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Unilever now sells margarine business to KKR for Sh824 billion

Blue Band margarine is one of Unilever Kenya's products.

Unilever has agreed to sell its margarine and spreads business to US private equity firm KKR for $8.04 billion (Sh824 billion) to concentrate on faster growing products.

The maker of Knorr soup and Dove soap announced the deal on Friday, hours after Reuters reported that KKR had entered exclusive talks to buy the shrinking business after outbidding rivals.

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