Unilever raises stake in Hindustan Unilever to 67%
Anglo-Dutch consumer goods company Unilever said it had acquired a little over two-thirds of Indian unit Hindustan Unilever following the close of a voluntary tender offer, falling short of its plan to raise its stake to as much as 75 percent.
Anglo-Dutch consumer goods company Unilever said it had acquired a little over two-thirds of Indian unit Hindustan Unilever following the close of a voluntary tender offer, falling short of its plan to raise its stake to as much as 75 percent.
Also read: HUL won't go sub-550/sh post Unilever open offer: StanChartShareholders of Hindustan Unilever, India's largest consumer goods maker, tendered 319.7 million shares to the offer, taking Unilever's holding in the unit to 67.28 percent from 52.48 percent, Unilever said in a statement.Unilever, which makes products including detergent, soap, margarine and ice cream, paid 600 rupees per share, valuing the transaction at about 2.45 billion euros.Earlier this year, Unilever said it planned to pay up to USD 5.4 billion to raise its stake in Hindustan Unilever to as much as 75 percent, as part of a strategy to increase its presence in fast-growing emerging markets. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
