JAKARTA. PT Unilever Indonesia Tbk (UNVR), an FMCG (Fast Moving Consumer Goods) company with the highest market capitalisation, has divested its asset, which is an ice cream production machine, for a transaction value worth EUR 3.27 million or equal to approximately IDR 57.6 billion.

Said assets were sold by UNVR to Unilever Thai Holdings Limited, a sister company based in Thailand. For the record, Unilever Thai Holdings Limited is indeed affiliated with the company due to the same ultimate beneficial owner of the shares, Unilever PLC.

The management of UNVR also mentioned that this asset divestiture will generate positive impact to the company, refocusing on producing core products from its ice cream business line.

“By transferring assets and freeing up the space, the company may rearrange the layout in order to simplify work order, reduce traffic, and increase general accessibility to meet available demands,” said the management of UNVR in the official statement.

As is known, this transaction is not material, as the value does not exceed 20% of total equity of UNVR. As of December 31, 2023, total equity clocked up to IDR 3.38 trillion. (KR/ZH)