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Name | Symbol | Market | Type |
---|---|---|---|
Unilever PLC | NYSE:UL | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.055 | -0.11% | 52.075 | 52.27 | 51.90 | 52.20 | 1,776,528 | 20:15:50 |
By Cris Larano
MANILA--Philippine food-and-beverage company RFM Corp. (RFM.PH) has agreed to pay $47.8 million for Unilever's Royal brand pasta business, RFM said on Thursday.
The acquisition will solidify its position in the Philippine pasta market, RFM said in a statement. RFM's Fiesta is the country's top pasta brand while Royal is No. 2.
The 58-year-old Royal brand is expected to boost revenue and make up revenue lost after the sale of Swift Foods Inc (SFI.PH) in 2012.
RFM raised around $36.4 million in a rights offering in October to pay for expansion.
RFM and Unilever have an existing ice-cream joint venture.
Write to Cris Larano at cris.larano@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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