Unilever Sells Food Division to McCormick for $44.8bn

Unilever agreed to sell its food division including Hellmann's and Knorr to US firm McCormick for $44.8bn. The deal provides $15.7bn cash with the remainder in equity, representing a major corporate restructuring for the British consumer goods giant. The transaction could strengthen GBP as it provides significant cash inflow to Unilever while streamlining operations. However, the mixed cash-equity structure may limit immediate currency impact compared to a pure cash deal.