Unilever PLC (LSE:ULVR) is considering disposing of the majority stake in Chinese water purification company Qinyuan Group it bought a decade ago, according to a report.
Sources told Bloomberg a sale could value Qinyuan at around $300 million (£236 million), though Unilever has not disclosed the size of its stake.
Qinyan was Unilever’s largest Chinese acquisition at the time, doubling the British FMCG conglomerate’s exposure to the water purification market.
The news comes one day after Unilever announced the split-off of its ice cream portfolio – encompassing Ben & Jerrys, Walls and Magnum – into a separate entity.
Unilever shares were down 1.4% on Wednesday, following a 3% rally yesterday.