December 9, 2025 | 01:33 pm
TEMPO.CO, Jakarta - PT Unilever Indonesia Tbk has finalized the sale of its ice cream business to PT The Magnum Ice Cream Indonesia for Rp7 trillion. This completion is a direct follow-up to the business agreement initially established between Unilever and Magnum on November 22, 2024.
"The company has completed the sale of the ice cream business," announced Unilever Corporate Secretary, Padwestiana Kristanti, in a disclosure to the Indonesia Stock Exchange (IDX) on Monday, December 8, 2025.
Kristanti confirmed that the transaction received full approval from shareholders during the Extraordinary General Meeting and Independent Shareholders Meeting held on January 14, 2025.
The initial agreement, signed on Friday, November 22, 2024, valued the transaction at Rp7 trillion, excluding Value-Added Tax (VAT). This total figure covers: fixed assets worth Rp2.5 trillion, net book value of Rp1.9 trillion, and inventory value of Rp172 billion.
An independent business valuation, conducted by the Public Appraisal Office Suwendho Rinaldy and Partners, determined a market value of Rp6.5 trillion.
Kristianti previously stated that the transaction was deemed "material" because "The transaction value represents 204 percent of the company's equity value as of September 30, 2024, amounting to Rp 3.4 trillion," as quoted on Thursday, November 28, 2024.
The sale was initiated as part of the Unilever Group's global strategy to separate its worldwide ice cream business.
Kristianti noted that while Magnum Ice Cream had an affiliate relationship with Unilever Indonesia at the time the agreement was signed, the buyer no longer held any relationship with the company when the transaction was formally implemented and completed.
According to Kristianti, the sale "will allow the company to realize the value of its investment in the ice cream business in Indonesia and return that value to its shareholders in the short term."
Read: IDX Extends Suspension of WIKA's Stock Trading
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