Unilever has received approval from the Securities and Exchange Board of India (SEBI) for its voluntary open offer to increase its stake in Hindustan Unilever from 52.48 per cent to up to 75 per cent. The tender period will commence on June 21, 2013 and will end on July 4, 2013.
HUL’s shares are traded on the Bombay Stock Exchange and on the National Stock Exchange. Unilever PLC will be making further statutory announcements required under the Indian takeover regulations in due course.
The offer is being managed by HSBC Securities and Capital Markets.