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.
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