19/06/2008 (Trading Markets.com) - Unilever has signed an agreement to sell its edible oil business in Cote d'Ivoire together with its interests in local oil palm plantations, Palmci and PHCI. The firm also plans to acquire the soap business of Cosmivoire, a subsidiary of SIFCA, an Ivorian agro-industry company.

The plantation interests and the edible oils business will be sold to SIFCA and to a 50:50 joint venture company between SIFCA and two Singapore-based companies, Wilmar International and Olam International.

The acquisition is expected to strengthen Unilever's consumer business position both in the sub-region and in Cote d'Ivoire.

The deal, which is still subject to approval by the regional authorities, is likely to be completed by the end of 2008.