Unilever eyes Hindustan stake hike

Consumer goods giant Unilever yesterday announced that it is looking to increase its stake in its Hindustani subsidiary from 52.48 per cent to 75 per cent. The offer commences today and ends on 4 July, at a previously announced offer price of INR600 (£6.50) per share. The directors’ committee of Hindustan Unilever has recommended the offer as “fair and reasonable”. Hindustan Unilever’s portfolio includes brands such as Lux, Pepsodent, Knorr and Sunsilk. The company employs over 16,000 staff.