ibnlive » Business

Apr 30, 2013 at 09:27am IST

Unilever to raise stake in India unit in $5.4 billion offer

New Delhi: Anglo-Dutch company Unilever Plc, along with Unilever NV will acquire about 487 million shares, or 22.52 per cent, of India's Hindustan Unilever in a deal valued at about $5.4 billion.

The parent company will buy the shares for Rs 600 each, 20.6 per cent premium to the Monday's closing price, the manager to the offer HSBC Securities and Capital Markets informed the stock exchanges on Tuesday.