Unilever raises stake in HUL to 67 per cent

Anglo-Dutch consumer goods company Unilever said it had acquired a little over two-third of Hindustan Unilever following the close of a voluntary tender offer, falling short of its plan to raise its stake to as much as 75 per cent.

Shareholders of Hindustan Unilever tendered 319.7 million shares to the offer, taking Unilever's holding in the unit to 67.28 percent from 52.48 percent, Unilever said in a statement.

Unilever, which makes products including detergent, soap, margarine and ice cream, paid Rs 600 per share, valuing the transaction at about £2.45 billion.

Earlier this year, Unilever said it planned to pay up to $5.4 billion to raise its stake in Hindustan Unilever to as much as 75 per cent, as part of a strategy to increase its presence in fast-growing emerging markets.