Unilever Offers $5.4B To Boost Stake In Indian Unit

Law360, New York (April 30, 2013, 12:10 PM EDT) -- Unilever PLC plans to spend up to 292.2 billion Indian rupees ($5.4 billion) to increase its stake in its publicly traded Indian subsidiary to 75 percent as it looks to focus on emerging markets, the Anglo-Dutch consumer goods conglomerate announced Tuesday.

The company, which currently holds a controlling 52.48 percent stake in Hindustan Unilever, will seek to buy up to 487 million additional shares. Indian law requires at least 25 percent of shares in a company to be held publicly for it to be listed in...
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