Anglo-Dutch consumer goods giant Unilever Plc will spend $5.4 billion to boost its stake in its Indian unit Hindustan Unilever to 75%.
Unilever will pay Rs. 600 a share in an open offer to raise its stake in Hindustan Unilever to 75% from the current 52.48%, the company said in a filing to the stock exchanges.
The price is 21% higher than the stock's closing price of Rs. 497.35 on Monday.
The world's second-largest consumer goods company "is making a voluntary open offer to acquire 487,004,772 shares representing 22.52% of the total Voting Share Capital from the public shareholders of Hindustan Unilever Ltd," it said.