Unilever Buys Chinese Company
11 March 2014 11:54 WIB
TEMPO.CO, Jakarta - World's largest manufacturer of consumer goods and toiletries, Unilever NV, is now the majority shareholder of China's water purification company, Qinyuan Group. Despite refusing to mention the deal value, Unilever chief executive Paul Polman said the acquisition is the largest transaction the company has had in China in the last decade.
"This is a strategic investment for us," he said in a statement on Unilever's website, Monday March 10.
Acquiring Qinyuan is a vital step in Unilever's water treatment business. The Dutch and British joint venture has a water purifying product called Pureit, marketed in developing countries in Latin America, Africa and Asia; Including Indonesia.
According to Polman, purchasing Qunyuan's shares will double Pureit's business scale. Another benefit from this transaction is Unilever will dominate the market share in China.
"With its manufacturing capabilities, we believe China could become an important terminal for Pureit's business globally," said Qinyuan Group founder, Ye Jianrong.
FERY FIRMANSYAH
