PZ Cussons sells out of Nigerian palm oil JV, narrows down profit guidance

  • PZ Cussons (LSEZC), the maker of Imperial Leather and Carex soaps, has agreed to sell its half of a Nigerian edible oils joint venture as it continues to review strategic options for its African businesses.  The FTSE 250 group said it has struck a deal to sell its 50% stake in PZ Wilmar to partner Wilmar International for $70 million (£51 million), with expected net proceeds of roughly $64 million (£47 million).