Unilever Commits €400 Million Investment in Pakistan
Unilever Plc., through its wholly owned subsidiary, Unilever Overseas Holdings Limited today, April 2, 2013, committed to invest circa €400 Million (US$514m Million, Rs.50 Billion) in acquiring the 24.92% of issued shares in its Pakistan subsidiary, Unilever Pakistan Limited, that it does not already own. This follows price and buyout threshold determined by the Special Committee constituted at the Karachi Stock Exchange as per applicable delisting regulations.
€400 Million is the single largest foreign direct investment in the recent history of Pakistan and underlines Unilever's commitment to a business established in the country in 1948. For the last 65 years, Unilever has been workingto create a better future every day for millions of Pakistanis, with brands and services that help people make sustainable living a common place.
There is hardly a household that does not daily use one of its 27 brands in the home care, personal care, foods, beverages and ice cream categories. It directly employs 2,000 individuals in addition to generating a further 6,000 jobs in the value chain. Over 95% of what it sells is manufactured in Pakistan. The company ranks as the Most Preferred Employer amongst business graduates.
Under the Unilever Sustainable Living Plan, the company focuses on improving health and well-being, enhancing livelihoods and reducing the environmental impact.
The aforementioned investment is subject to approval by Unilever Pakistan's shareholders at an Extraordinary General Meeting to be held shortly.
Unilever is one of the world’s leading suppliers of Food, Home and Personal Care products with sales in over 190 countries. Our products are present in 7 out of 10 homes globally and are used by over 2 billion people on a daily basis. We work with 173,000 colleagues around the world, and generated annual sales of €51.3 billion in 2012.
Over half of our company’s footprint is in the faster growing developing and emerging markets (55% in 2012). Working to create a better future every day, we help people feel good, look good and get more out of life. Our portfolio includes some of the world’s best known brands such as Knorr, Persil / Omo, Dove, Sunsilk, Hellmann’s, Lipton, Rexona / Sure, Wall’s, Lux, Rama, Ponds and Axe.
Our ambition is to double the size of our business, whilst reducing our overall environmental footprint (including sourcing, consumer use and disposal) and increasing our positive social impact. We are committed to helping more than a billion people take action to improve their health and well-being, sourcing all our agricultural raw materials sustainably by 2020, and decoupling our growth from our environmental impact. Supporting our three big goals are more than 50 time-based targets. See more on the Unilever Sustainable Living Plan at www.unilever.com/sustainable-living/
Unilever has been recognised in the Dow Jones Sustainability World Indexes for 14 consecutive years. We are included in the FTSE4Good Index Series and attained a top environmental score of 5, leading to inclusion in the FTSE4Good Environmental Leaders Europe 40 Index.
In 2012, for the second year in a row, Unilever led the Climate Counts Company Scorecard and topped the list of Global Corporate Sustainability Leaders in the GlobeScan / SustainAbility latest annual survey. The company is an employer of choice in many of the countries in which it operates and is seen as a symbol for innovation and leadership development.
For more information about Unilever and its brands, please visit www.unilever.com
About Unilever Pakistan Limited
Unilever Pakistan’s ultimate parent is Unilever Plc. Established in Pakistan in 1948, the Pakistan business is amongst the country’s largest consumer goods company. Its brands such as Lux, Lifebuoy, Lipton, Surf and Wall’s are known for their consistent high quality and value and are trusted and consumed daily by millions of people across Pakistan.
Unilever’s brands create a better future every day for Pakistanis and Pakistan. Lifebuoy reaches out to thousands of children through its handwashing campaign, raising standards of hygiene; Lux promotes film, fashion and music through the iconic Lux Style Awards, now in its eleventh year; Sunsilk partners PFDC in the fashion weeks; Surf has helped rebuild schools damaged in the recent floods; and Blue Band supports nutrition.
Unilever’s ambition is to double its business while reducing its environmental impact. It is engaged in a number of initiatives to enhance livelihoods, conserve water & energy, reduce carbon emissions and to cut waste and promote recycling.
For more information please visit Unilever Pakistan Ltd
Unilever Pakistan Limited
Fatimah Jinnah Road
T: +92-21-3 566 0062 (ext 2270)