Unilever increases Unilever Hindustan stake

11th Jul 2013 07:15

Unilever has increased its stake in Hindustan Unilever to more than two-thirds of the company in a deal valued at about INR 191.74bn (2.13bn pounds).The consumer goods giant said it had accepted shares worth 14.78% of the Indian company, taking its stake to 67.26%.Hindustan Unilever sells brands such as Vaseline, Dove and Brooke Bond in India. The UK company made a voluntary open offer for the shares at INR 600 a share on April 30th. It will pay for the shares on July 18th.