Unilever (UL) has started initial talks with buyout firms about a potential sale of its ice cream unit, which is home to brands like Ben & Jerry’s and Magnum and could be worth up to $19.4B, Bloomberg’s Swetha Gopinath and Dinesh Nair reports. According to people familiar with the matter, private equity firms Blackstone (BX), Advent International, Cinven and CVC Capital Partners are among those that have shown preliminary interest, while KKR (KKR) and Clayton Dubilier & Rice have also been studying the Unilever division. A formal sale process is likely to start in the second half of the year, the people say.
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