March 3, 2014 / 3:45 PM / 4 years ago

Unilever seeking bidders for Ragu - report

LONDON (Reuters) - Consumer goods company Unilever (ULVR.L) is seeking bidders for its Ragu pasta sauce business, Bloomberg said on Monday, citing unnamed sources.

Unilever, which recently sold its Wish-Bone salad dressings, Skippy peanut butter and Peperami meat snacks, has commissioned Morgan Stanley to sell Ragu, which could fetch as much as $2 billion, according to the Bloomberg report.

No one at Unilever or Morgan Stanley was immediately available to comment.

The company, which also makes Dove soap, Lipton tea and Ben & Jerry’s ice cream, has said it is in the process of selling underperforming assets.

Reporting by Martinne Geller; Editing by Greg Mahlich

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