(Il Sole 24 Ore Radiocor) - Milano, 31 mar - Anglo-Dutch consumer conglomerate Unilever said that it was now in advanced talks to merge part of its Unilever Foods unit with US foods, ingredients and flavor company McCormick.

The deal would exclude parts of its Foods portfolio such as its business in India.

The deal would involve an upfront cash component of approximately 15.7 billion dollars and the majority of the consideration in McCormick equity.

Upon completion of the transaction, it is expected that Unilever and its shareholders would hold 65% of the combined company.

The transaction would be undertaken by a Reverse Morris Trust, which is intended to be tax-free for US federal income tax to Unilever and its shareholders.

Unilever said that work remains ongoing to reach and finalise a transaction, which could be agreed on as soon as today, although there can be no certainty that a transaction will be.

agreed.

(RADIOCOR) 31-03-26 08:24:15 (0170) 5 NNNN