Acquisition of Tunisian Businesses

Unilever PLC
Unilever NV
3 July 2000


UNILEVER TO ACQUIRE HOME AND 
PERSONAL CARE BUSINESSES IN TUNISIA 
 
 
Unilever is to acquire the outstanding shares of Codepar S.A. and SPCD S.A.,
two related home and personal care companies in Tunisia, for an undisclosed
sum. The transaction is subject to regulatory and stock exchange approval in
Tunisia.
 
Unilever already owns 20.3 percent of Codepar and 7.82 percent of SPCD.
Through Codepar, Unilever also owns approximately 11.8 percent of SPCD,
bringing Unilever's total ownership of SPCD to 19.6 percent.
The remainder of Codepar and approximately 58 percent of SPCD are owned by
one individual. The remainder of SPCD is publicly held and Unilever will
offer to purchase these shares for 50.3 Tunisian dinars per share following
regulatory approval. The value of the total transaction was not disclosed.
 
The Tunisian home and personal care businesses of Codepar and SPCD, which
employ around 380 people, together account for an annual turnover of $US 43
million (euro45 million).
 
The assets acquired include two factories. Unilever intends to combine the
two companies into one integrated home and personal care business with
leading positions in laundry, personal wash, oral and hair.
 
Codepar and SPCD currently manufacture and market Unilever's Omo and Skip
brands, together with the local Zed detergent. Hair products include Timotei
and Sunsilk shampoos, with the oral category represented through Unilever's
international Signal brand. Personal wash products include Lux and Dove.
 
Tunisia represents an important market in North Africa with strong growth
prospects. This investment demonstrates Unilever's commitment to enhancing
its presence in North Africa and the Middle East. The new entity will create
a strong base from which to generate growth and innovative products for the
benefits of consumers. Unilever believes that the local strengths of Codepar
and SPCD combined with its own expertise will significantly enhance its
position in the North African homecare market.