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Unilever PLC initiates offer to increase stake in Hindustan Unilever

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London/Mumbai, 30th April 2013. Unilever PLC (LSE: ULVR) today announced a voluntary open offer to increase its stake in Hindustan Unilever (HUL), its publicly listed subsidiary in India, from 52.48% to up to 75% at a price of INR 600 per share.

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Paul Polman, CEO Unilever, said: “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. The long heritage and great brands of Hindustan Unilever, and the significant growth potential of a country with 1.3 billion people makes India a strategic long term priority for the business.”

The offer, which is made pursuant to the rules of the Securities and Exchange Board of India, is to acquire up to 487,004,772 shares, representing 22.52% of the total outstanding shares of HUL, which would increase Unilever’s stake to up to 75%. Securities regulations in India require a minimum public shareholding of 25% for a company to maintain a public listing in the country.

The offer, payable in cash, represents a premium of approximately 29.5% over the mandatory floor price required under Indian regulations, a premium of 26.0% to HUL’s last one month’s average trading share price and 25.0% to the last one week’s average trading price on the National Stock Exchange of India Limited. The potential total value of the transaction at the offer price (assuming full acceptances) is approximately INR 292.2 billion or €4.1 billion.

Subject to regulatory clearance, the offer period is expected to begin in June 2013. Payment for the shares will take place shortly after close of the offer. HUL’s shares are traded on the BSE Ltd (Scrip Code: 500696) and on the National Stock Exchange of India Limited (Symbol: HINDUNILVR).

The details of the offer can be found in the public announcement which will shortly be available at www.sebi.gov.in, www.bseindia.com, and www.nseindia.com and the detailed public statement and letter of offer which will be filed in connection with the offer with the relevant stock exchanges and the Securities and Exchange Board of India.

The Offer is being managed by HSBC Securities and Capital Markets (India) Private Limited.

About Hindustan Unilever

Hindustan Unilever is a market leader in the fast moving consumer goods business in India, with brands spanning divisions such as soaps, detergents, shampoos, skin care, toothpastes, deodorants, cosmetics, tea, coffee, packaged foods, ice cream, and water purifiers. Its portfolio includes the following brands: Lux, Lifebuoy, Surf Excel, Rin, Wheel, Fair & Lovely, Pond’s, Vaseline, Lakmé, Dove, Clinic Plus, Sunsilk, Pepsodent, Closeup, Axe, Brooke Bond, Bru, Knorr, Kissan, Kwality Wall’s and Pureit.

Hindustan Unilever generated over INR 270 billion turnover (or €3.8 billion) and net profit of over INR 38 billion (or €0.5 billion) for the financial year ending 31 March 2013.

Accounting Information

Unilever will continue to consolidate 100% of the results and net assets of HUL, but the net profits attributable to non-controlling interests and the share of equity of the non-controlling interests will both be lower after the transaction.

Currencies

The Indian Rupee equivalent quoted in each case for Euro is calculated based on the reference rate of INR 70.903 per € as on the date of this announcement (Source: Reserve Bank of India - http://www.rbi.org.in).

Unilever PLC Enquiries
Investor Relations - +44 20 7822 6830
Media – Lucila Zambrano +44 20 7822 5354 / lucila.zambrano@unilever.com

About Unilever

Unilever is one of the world’s leading suppliers of Food, Home and Beauty & Personal Care products with sales in over 190 countries. Our products are present in 7 out of 10 homes globally and are used by over 2 billion people on a daily basis. We work with 173,000 colleagues around the world and generated annual sales of over €50 billion in 2012.

Over half of our company’s footprint is in the faster growing developing and emerging markets (55% in 2012). Working to create a better future every day, we help people feel good, look good and get more out of life. Our portfolio includes some of the world’s best known brands such as Knorr, Persil / Omo, Dove, Sunsilk, Hellmann’s, Lipton, Rexona / Sure, Wall’s, Lux, Rama, Ponds and Axe, 14 of which now generate a turnover of €1 billion or more.

Our ambition is to double the size of our business, whilst reducing our overall environmental footprint (including sourcing, consumer use and disposal) and increasing our positive social impact. We are committed to helping more than a billion people take action to improve their health and well-being, sourcing all our agricultural raw materials sustainably by 2020, and decoupling our growth from our environmental impact. Supporting our three big goals are more than 50 time-based targets. See more on the Unilever Sustainable Living Plan at www.Unilever.com/sustainable-living/.

Unilever has been recognised in the Dow Jones Sustainability World Indexes for 14 consecutive years. We are included in the FTSE4Good Index Series and attained a top environmental score of 5, leading to inclusion in the FTSE4Good Environmental Leaders Europe 40 Index.

In 2012 Unilever led the Climate Counts Company Scorecard and the list of Global Corporate Sustainability Leaders in the GlobeScan /SustainAbility latest annual survey (2012) - both for the second year running. The company is an employer of choice in many of the countries in which it operates and is seen as a symbol for innovation and leadership development. For more information about Unilever and its brands, please visit www.Unilever.com.




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