Unilever Acquires 82% of Russia's Largest Cosmetics Manufacturing Company

According to Russian News, Russia’s largest cosmetic and daily chemical production company “Karina” Group rose 40% in the last trading day of last week in Micex. This is because Unilever, the world’s leading consumer goods company, has signed an agreement to acquire 82% of the shares in this Russian company.

As of 11:11, Moscow time, the shares of the Karina Group rose by 40% and the current share price was 3077 rubles.

The two companies, Unilever and Kalina, recently announced the news of equity transfer in a joint press release.

The price of this transaction was established on the basis of Karina’s full-price assets of 21.5 billion roubles (about 500 million euros). Sources said that Unilever’s acquisition of 82% of the shares amounted to approximately 16.7 billion roubles, or 390 million euros.

The transaction needs the approval of the relevant department.

Karina’s share price (3,077 rubles) at the interbank office in Moscow has reached the price limit set by the stock market to prevent a sharp rise in the price of the stock.

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