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Unilever to spend $5.4 bn to raise stake in Hindustan Unilever
Anglo-Dutch consumer goods giant Unilever Plc will spend $5.4 billion to boost its stake in its Indian unit Hindustan Unilever to 75%.
Updated on: Apr 30, 2013, 11:06:06 IST
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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.
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