Divestment of shareholding in Capgemini Business Services (India) Limited
29-03-2010 :
Pursuant to the terms of agreement entered between Hindustan Unilever Limited (HUL) and Cap Gemini SA in October 2006, HUL has divested its remaining 49% stake in Capgemini Business Services ( India) Limited (CGBSL) [formerly Unilever India Shared Services Limited (UISSL) ].
UISSL was the in-house BPO unit of HUL. Cap Gemini SA and HUL entered into an agreement in September 2006, for sale of 51% controlling stake of HUL in UISSL. Post dilution, UISSL was renamed as Capgemini Business Services (India) Limited.
In terms of a separate agreement entered in October 2006 and subsequent amendments thereto, both parties further agreed for dilution of the balance 49% stake of HUL in favour of Cap Gemini SA by 31st March 2010. Accordingly, HUL has now divested its 49% stake in CGBSL in favour of Cap Gemini SA.
