Unilever seeks to increase stake in Hindustan Unilever

Consumer goods company Unilever has put in an offer to increase its stake in its Indian subsidiary, Hindustan Unilever.

Consumer goods company Unilever has put in an offer to increase its stake in its Indian subsidiary, Hindustan Unilever.

The group is seeking to increase its interest from 52.48% to 75% for a price of 600 Indian Rupees per share for the arm which sells food, beverages, cleaning agents and personal care products.

"This represents a further step in Unilever's strategy to invest in emerging markets and offers a liquidity opportunity at what we believe to be an attractive premium for existing shareholders," said Chief Executive Officer Paul Polman.

"The long heritage and great brands of Hindustan Unilever, and the significant growth potential of a country with 1.3bn people makes India a strategic long term priority for the business."

Subject to regulatory clearance, the offer period is expected to begin in June 2013.

RD

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