HUL announces proposal for demerger of its FMCG Exports business
09-05-2011 : The Board of Directors of Hindustan Unilever Limited (HUL) in their meeting held today have approved a proposal for demerger of FMCG exports business of the Company into its wholly owned subsidiary Unilever India Exports Limited, with effect from 1st April, 2011.
In order to fully exploit the opportunity in export market and to provide necessary focus, flexibility and speed to the business, the Board of Directors considered the above proposal and have, subject to the necessary approvals, decided to demerge FMCG exports business of the Company into its wholly owned subsidiary.
The Company will file the requisite application under Clause 24(f) of the listing agreement with the stock exchanges in the due course.
India:
Hindustan Unilever Limited
Unilever House,
B. D. Sawant Marg,
Chakala, Andheri (E),
Mumbai - 400 099.
T: +91-22-39830000
F: +91-22-22871970
