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Unilever Spreads Split Boosts Chance of Exit as Shares Gain

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Unilever will split its U.S. and European spreads operations into a standalone unit, a first step toward a possible exit from a struggling business that the company has failed to turn around over the past two years.

The new entity, including brands such as Flora and I Can’t Believe It’s Not Butter, will be running by mid-2015, Unilever Chief Financial Officer Jean-Marc Huet said today at an investor seminar in London. The unit’s sales account for about 5 percent, or 2.5 billion euros ($3.1 billion), of Unilever’s total revenue.