Unilever is considering selling its stake in Chinyuan Group, with a potential valuation of up to 300 million US dollars
Unilever is considering selling the majority stake in its Chinese water purification equipment manufacturer, Quinyuan Group Limited, with a potential valuation of up to 300 million US dollars. Quinyuan is a company that produces water purification products, and Unilever acquired the company in 2014, doubling its water purification business in China. This sale may impact Unilever's business in China
According to Zhitong Finance, it is learned from informed sources that Unilever (UL.US) is considering selling the majority of its equity in Chinese water purification equipment manufacturer Qinyuan Group Limited. In 2014, Unilever acquired Qinyuan Group Limited, with the acquisition amount undisclosed. Unilever is working with an advisor to assess the interest of potential buyers. Sources said that the valuation of Qinyuan in this transaction could be around USD 300 million.
Founded in 1998, Qinyuan produces water purification products under the Truliva brand. Unilever stated at the time that the acquisition of this company based in Ningbo was the largest deal in China for the company in over 10 years, helping to double its water purification business in China. Unilever also owns water and air purification brands Pureit and Blueair, and is considering selling its stake in Qinyuan