67% rise in stake by Unilever in its Indian Unit
New Delhi, Jul 5: Unilever, the Anglo-Dutch consumer goods company claim to acquire about 67% stakes of Indian unit Hindustan Unilever after the close of a voluntary tender. It just fell short of its plan
New Delhi, Jul 5: Unilever, the Anglo-Dutch consumer goods company claim to acquire about 67% stakes of Indian unit Hindustan Unilever after the close of a voluntary tender. It just fell short of its plan to acquire 75% stakes of the company.
“Shareholders 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% from 52.48%”, spokesperson of the Unilever said.
Unilever paid Rs 600 ($9.90) per share, which costed about 2.45 billion euros ($3.16) in the transaction.
Unilever is into manufacturing consumer goods including ice cream, soap, margarine and detergent.
Earlier this financial year, Unilever planned to boost up its stake to 75% in Hindustan Unilever so as to expand its business in fast-growing emerging markets of India.
“Shareholders 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% from 52.48%”, spokesperson of the Unilever said.
Unilever paid Rs 600 ($9.90) per share, which costed about 2.45 billion euros ($3.16) in the transaction.
Unilever is into manufacturing consumer goods including ice cream, soap, margarine and detergent.
Earlier this financial year, Unilever planned to boost up its stake to 75% in Hindustan Unilever so as to expand its business in fast-growing emerging markets of India.