Arab Today, arab today unilever raises stake in indian unit hul to 67
Last Updated : GMT 11:33:38
Arab Today, arab today
Arab Today, arab today

Unilever raises stake in Indian unit HUL to 67%

Arab Today, arab today

Arab Today, arab today Unilever raises stake in Indian unit HUL to 67%

Mumbai - AFP

Anglo-Dutch food giant Unilever said it has paid $3.2 billion for an additional 14.8 percent in its Indian subsidiary as part of its strategy of expanding in emerging markets. Unilever now owns 67.28 percent of HUL, India\'s largest consumer-goods company by revenue, from an earlier 52.48 percent, according to a statement on its website. Shareholders of HUL, which makes skin whitening cream \"Fair and Lovely\" and Dove and Lux soaps, were offered 319.7 million shares at the price of 600 rupees per share in an open offer that ended Thursday. The acquisition fell short of Unilever\'s plans to pay up to $5.4 billion to raise its stake in HUL to 75 percent. But HUL shares rose as much as 5.1 percent to a record high of 631.95 rupees on Friday morning. Unilever\'s chief executive Paul Polman, said: \"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.\" The acquisition is part of Unilever\'s strategy of investing in emerging markets as growth in revenues from developed countries slows. \"The open offer and its price reveals Unilever\'s view that India is a very important market for it,\" said Sonam Udasi, head of research with IDBI Capital. India contributes 15-20 percent of Unilever\'s revenues, analysts said, when consumer demand and growth in the developed markets of the United States and Europe has slowed sharply. The payment for shares tendered and accepted will be completed on or before 18 July, Unilever said. HUL has a huge distribution network stretching across thousands of supermarkets and small retailers in India, and its sales are watched by analysts as a barometer of Indian consumer demand.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today unilever raises stake in indian unit hul to 67 Arab Today, arab today unilever raises stake in indian unit hul to 67

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today unilever raises stake in indian unit hul to 67 Arab Today, arab today unilever raises stake in indian unit hul to 67

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Ryanair's O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

Ryanair's O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday