CVC Capital Partners Fund VIII managed by CVC Capital Partners Limited agreed to acquire ekaterra B.V. from Unilever PLC (LSE:ULVR) for €4.5 billion on November 18, 2021. The transaction perimeter excludes Unilever's Tea business in India, Nepal and Indonesia as well as Unilever's interests in the Pepsi Lipton ready-to-drink Tea joint ventures and associated distribution businesses. For the year ended December 31, 2020, revenues of tea business were €2 billion.

Completion is subject to completion of works council consultation processes and the receipt of certain regulatory approvals. The transaction is approved by the European Commission. Closing is expected in the second half of 2022.

Greg Olsen of Clifford Chance LLP acted as legal advisor to CVC Capital. Tim Wright, Danny Westmoreland, Gabriël Gelder, Harry Eastgate, Jean Paul Dresen, and Mehdi el Manouzi of DLA Piper Group acted as legal advisor to the management of Unilever PLC. Zara Philbert of Citigroup Inc. (NYSE:C) acted as financial advisor and Jill Gatehouse, Alex Mitchell, Charles Haye, David Brooks, Denise Ryan, Andrew Murphy and Victoria Hills of Freshfields Bruckhaus Deringer LLP acted as legal advisor to CVC Capital Partners.

Spayne Lindsay & Co. LLP acted as financial advisor to CVC Capital.