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Unilever says to form standalone spreads business unit

Reuters - UK Focus

LONDON, Dec 4 (Reuters) - Unilever (NYSE: UL - news) plans to form a new standalone business unit for its North American and European spreads business, which is struggling as people eat less bread and use less margarine, its chief financial officer said on Thursday.

The unit will be called Unilever Baking, Cooking and Spreading and will give the business more focus and more "freedom to take necessary decisions", CFO Jean-Marc Huet said during an investor seminar that was simultaneously webcast.

(Reporting by Martinne Geller in London; editing by Jason Neely)