Report & accounts 2002 in full - Unilever

Bestfoods Baking Company; European dry soups and sauces
businesses; North American seafood business; and various
other smaller businesses and brands.
Public takeover offers made by Unilever during 2002 related
to the following:
On 14 August 2002, Unilever Overseas Holdings Limited and
other members of the Unilever Group were obliged to make
an agreed public tender offer on the Cairo and Alexandria
Stock Exchange in Egypt for 2 938 000 shares (49%) of
El Rashidi El Mizan Confectionery SAE at a price of 31.22
Egyptian pounds per share. All the shares were acquired.
The purchase and price had been agreed by Bestfoods in
2000 at the time of their acquisition of the other 51% of
the company.
Subsequently on 22 December 2002, Middle East Food and
Trade Company SAE made an agreed public tender offer on
the Cairo and Alexandria Stock Exchange in Egypt for the
6 000 000 shares (100%) of the company held by members
of the Unilever Group at a price of 15.33 Egyptian pounds
per share. The transaction was completed on 6 January
2003 and all the shares were sold. Since control was
considered to have passed at 31 December 2002, the
disposal is reflected in these accounts.
Public takeover offers made by Unilever during 2001 related
to the following:
On 23 January 2001, following an offer, made in November
2000, through its subsidiary, Hindustan Lever Limited (HLL),
for the 24.62% of the shares in International Bestfoods
Limited India not already owned by Bestfoods, Unilever
acquired 7.99% of the shares for a consideration of
€2 million.
On 31 January 2001, following an offer made in
October 2000 by Unilever through its Tunisian subsidiary,
Société de Cosmetiques Détergent et Parfumerie, for the
9.21% of the shares in Société de Produits Chimiques
Détergents not already owned by Unilever, 8.1% of the
shares were acquired for a consideration of €4 million.
On 4 December 2001, following a joint offer by Unilever
and its subsidiary, Hindustan Lever Limited, for the
remaining 10.38% of the shares in Rossell Industries
Limited, India, not acquired in March 2000, Lipton India
Exports Limited, a wholly owned subsidiary of HLL acquired
a further 6.27% of the shares for a consideration of
€1.8 million, which brings the Group’s aggregate holding
in Rossell Industries to 95.89%.
For further information on the impact of acquisitions and
disposals please refer also to the Cash flow section of the
Financial review on page 37 and note 25 to the
consolidated accounts on page 99.
Unilever Annual Report & Accounts and Form 20-F 2002
Operating review – highlights 17
Report of the Directors