FDBusiness.com

Unilever has acquired 14.8% of Hindustan Unilever for Eur2.45 billion to increase its stake in the Indian business from 52.5% to 67.3%. Unilever’s voluntary open offer had aimed to increase its stake in Hindustan Unilever up to 75%.

Paul Polman, chief executive of Unilever, says: “We are pleased to have received such a good response to our voluntary open offer and that – as a result – we will significantly increase our stake in Hindustan Unilever, an excellent Indian business with a proud heritage and the potential for attractive long-term growth.”

Hindustan Unilever is a market leader in the fast moving consumer goods business in India, with brands spanning categories such as soaps, detergents, shampoos, skin care, toothpastes, deodorants, cosmetics, tea, coffee, packaged foods, ice cream, and water purifiers. The business generated over INR270 billion turnover Eur3.8 billion) and net profit of over INR 38 billion (Eur0.5 billion) for the financial year ending 31 March 2013.