Unilever PLC to commence the open offer to increase stake in Hindustan Unilever on 21 June 2013
London/Mumbai: Unilever PLC (LSE: ULVR) today announced that it has received approval from the India market regulator, the Securities and Exchange Board of India (SEBI), for its voluntary open offer to increase its stake in Hindustan Unilever Limited (HUL) from 52.48% to up to 75%.
The tender period will commence on 21 June 2013 and will end on 4 July 2013.
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 open offer can be found in the letter of offer sent to public shareholders of HUL and available at www.sebi.gov.in. Unilever PLC will be making further statutory announcements required under the Indian takeover regulations in due course.
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.
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.
*References to Fair & Lovely in this article pre-date the brand’s name change to Glow & Lovely in 2020.
Unilever PLC Enquiries
Investor Relations - +44 20 7822 6830
Media - Lucila Zambrano +44 20 7822 5354 / email@example.com
100 Victoria Embankment
London EC4Y 0DY
This announcement may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as 'will', 'aim', 'expects', 'anticipates', 'intends', 'believes', 'vision', or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance.
Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially are; Unilever's global brands not meeting consumer preferences; increasing competitive pressures; Unilever's investment choices in its portfolio management; finding sustainable solutions to support long-term growth; customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain; the cost of raw materials and commodities; secure and reliable IT infrastructure; successful execution of acquisitions, divestitures and business transformation projects; economic and political risks and national disasters; the sovereign debt crisis in Europe; financial risks; and failure to meet high product safety and ethical standards; managing regulatory, tax and legal matters. Further details of potential risks and uncertainties affecting the Group are described in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including the Group's Annual Report on Form 20-F for the year ended 31 December 2011 and the Annual Report and Accounts 2011. These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.