Unilever sells Italian Findus for 805 million euros

Unilever said Monday it completed the sale of its Italian subsidiary specializes in the Findus frozen food products to Birds Eye Iglo to 805 million euros.

Birds Eye Iglo is for the private equity firm Permira.

It involves the sale of Unilever's recent activities in Europe frozen.

Permira will bring Findus and Birds Eye Iglo to the old pole of Unilever's frozen foods, he had acquired in 2006 for 1.73 billion euros.

In a statement, Unilever said that about 650 people Findus, whose turnover reached 462 million euros in 2009, will be transferred to the new owner.

Reuters reported last week that Permira was elbow to elbow with Lion Capital in the race to buy Findus, to BC Partners.

In London, Unilever gained 0.74%, to 1.896 pence to 9:45 GMT.

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