Saturday, October 18, 2025
No Result
View All Result
Indonesia Sentinel
  • Home
  • News
  • World
  • Economic
  • Culture
  • Tech & Science
  • Home
  • News
  • World
  • Economic
  • Culture
  • Tech & Science
No Result
View All Result
Indonesia Sentinel
No Result
View All Result
ADVERTISEMENT
Home Economic

Unilever Indonesia Sells its Ice Cream Business to Magnum for Rp7 Trillion

by Raidi
2024-11-26
in Economic
A A
Ice Cream Unilever

Unilever (Pinterest)

Share on FacebookShare on TwitterShare on Whatsapp
ADVERTISEMENT

Jakarta, Indonesia Sentinel — PT Unilever Indonesia Tbk (UNVR) has announced the sale of its ice cream business to PT The Magnum Ice Cream Indonesia in a deal worth Rp7 trillion ($440 million). The move aligns with the global strategy of its parent company, Unilever Plc, to streamline its operations.

In a disclosure on Monday, November 25, Unilever Indonesia’s Corporate Secretary, Padwestiana Kristanti, stated that the business transfer agreement was signed on November 22, 2024.

The transaction value, excluding VAT, includes the fair market value of fixed assets at Rp2.55 trillion, net book value as of September 2024 at Rp1.99 trillion, and inventory value at Rp172.8 billion.

RelatedPosts

QRIS Digital Payment System Officially Available in Japan, Indonesia Eyes China Next

Indonesia Reports Corn Production Surplus, Boosting Confidence in Food Self-Sufficiency Goals

Kristanti highlighted that Magnum Indonesia is an affiliate of Unilever Indonesia, given that both companies share the same parent entity, Unilever Plc. “However, at the time of the transaction’s execution and completion, the buyer will no longer have any affiliation with the company,” Kristanti stated.

ADVERTISEMENT

The sale of the ice cream business aligns with Unilever Group’s broader plan to spin off its global ice cream business. The divestment of the Magnum ice cream business allows Unilever Indonesia to unlock the value of its investment in the ice cream sector.

“The proceeds from the sale will be returned to shareholders in the short term, while the company focuses on its core businesses to enhance long-term shareholder value” said Kristanti.

Bandung Regency Declares State of Emergency as Widespread Floods Affecting Thousands

Unilever’s Chief Financial Officer, Vivek Agarwal, highlighted that the spin-off of the ice cream business in Indonesia was prompted by its distinct characteristics compared to other business units, including distribution channels and storage methods.

“By establishing this unit as an independent operation, we can provide better services to meet the growing demand for ice cream in the future,” Agarwal noted.

Strategic Vision

This is not the first move Unilever Indonesia has made concerning its ice cream assets. According to Bisnis, on June 10, 2024, the company signed an agreement to sell ice cream machinery assets to Unilever Thailand for €3.27 million (approximately Rp57.84 billion).

Unilever Indonesia’s management explained that the sale of ice cream machinery assets to Unilever Thailand is expected to deliver greater benefits to the company, including enhanced business focus, optimized space utilization, and improved accessibility.

The spin-off of the ice cream business are part of a strategic overhaul by Unilever Plc’s new CEO, Hein Schumacher, aimed at reversing the company’s poor performance.

The separation of the ice cream unit is a key element of Schumacher’s long-term plan to drive growth, boost profitability, and shed the legacy of overexpansion and failed mergers and acquisitions.

 

(Raidi/Agung)

Tags: BusinessIce CreamMagnumUnilever
ADVERTISEMENT

Related Posts

Indonesia State Budget Deficit

Indonesia 2025 State Budget Deficit Reaches Rp371.5 Trillion per 30 September 2025

2025-10-15

Jakarta, Indonesia Sentinel -- Indonesia state budget (APBN) recorded a deficit of Rp371.5 trillion ($22.7 billion), or 1.56% of gross...

Indonesia Debt

Indonesia Debt Rises, Reached Rp9,138.05 Trillion in June

2025-10-14

Jakarta, Indonesia Sentinel -- The Ministry of Finance revealed that Indonesia’s central government debt reached Rp9,138.05 trillion rupiah ($570 billion)...

Online Loans Debt

OJK Reports Indonesia’s Citizens Online Loans Debt Kept Increasing, Reach Rp87.61 Trillion per August 2025

2025-10-14

Jakarta, Indonesia Sentinel -- Indonesia’s Financial Services Authority (OJK) reported that the total outstanding balance or debt of online loans...

Indonesia Economic Growth

Finance Minister Purbaya Yudhi Sadewa Responds to World Bank’s 2025 Economic Growth Forecast for Indonesia

2025-10-10

Jakarta, Indonesia Sentinel -- Indonesia’s Finance Minister Purbaya Yudhi Sadewa has commented on the World Bank’s latest projection, which raised...

Fuel Shortage

Fuel Shortage Threatens Jobs at BP-AKR, Shell, and Vivo Stations in Indonesia

2025-10-05

Jakarta, Indonesia Sentinel -- Indonesian fuel retailer BP-AKR warned it may be forced to lay off workers if the government...

Freeport Shares

Freeport Agreed to Divest 12% of its Shares to Indonesia

2025-10-02

Jakarta, Indonesia Sentinel -- Indonesia’s sovereign wealth agency, Danantara said that Freeport McMoRan has agreed to divest 12% of its...

Illegal Money Changers Bali

Bank Indonesia to Probe 68 Suspected Illegal Money Changers in Bali

2025-09-30

Jakarta, Indonesia Sentinel -- Bank Indonesia’s Bali representative office said it will investigate 68 money changers suspected illegal or operating...

Illegal Cigarettes

Indonesia’s Finance Minister Purbaya Vows Crackdown on Illegal Cigarettes

2025-09-20

Jakarta, Indonesia Sentinel -- Finance Minister Purbaya Yudhi Sadewa pledged to step up efforts against illegal cigarettes sales, which he...

2026 State Budget

Indonesia Revised 2026 State Budget Framework, Increased Spending and Widening Budget Deficit

2025-09-20

 Jakarta, Indonesia Sentinel -- Indonesia’s House Budget Committee (Banggar) and the government have agreed to revise the framework of the...

Indonesia Faces Food Waste Threat, Economic Loses Reach Rp551 Trillion Annually

2025-09-11

Jakarta, Indonesia Sentinel -- Indonesia is facing mounting economic and environmental risks from food loss and waste (FLW), with losses...

Load More
Next Post
Samsung ChatGPT

Samsung Plans to Integrate ChatGPT, Enhancing Galaxy AI Features

Popular

  • yandex

    How to Watch Viral Video on Yandex: What You Need to Know

    0 shares
    Share 0 Tweet 0
  • Seven Workers Remain Trapped in Freeport Underground Mine After Hit by Landslide

    0 shares
    Share 0 Tweet 0
  • 15 Indonesian Provinces Lead in Sex Worker Locations, West Java Ranks First!

    0 shares
    Share 0 Tweet 0
  • The Joyoboyo Prophecy: Historical Roots and Modern Resonance in Indonesian Society

    0 shares
    Share 0 Tweet 0
  • Stella Christie Career and Wealth, From Academia to Indonesia’s Deputy Minister

    0 shares
    Share 0 Tweet 0

Recommended

Central Bank of Libya

Central Bank of Libya Suspends Operations Amid Kidnapping Crisis

1 year ago
ChatGPT Productivity features

OpenAI Unveils New ChatGPT Productivity Features for Business Users

4 months ago
ADVERTISEMENT

Indonesiasentinel.com is an independent online news portal committed to providing accurate, in-depth, and up-to-date news about Indonesia. Since 2021, we have been a trusted source for millions of readers seeking relevant and reliable news.

Part of:

Information Page

  • About
  • Editorial
  • Privacy Policy
  • Disclaimer
  • About
  • Editorial
  • Privacy Policy
  • Disclaimer

Contact

  • contact@indonesiasentinel.com
© 2021 Indonesia Sentinel

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • News
  • World
  • Economic
  • Culture
  • Tech & Science

© 2024 Indonesia Sentinel