HLL divests holding in Quest International
24-06-2006 :
Hindustan Lever Limited (HLL) has today divested its holding of 49% of equity share capital of Quest International India Limited (QIIL). HLL had transferred the flavours and fragrances business into QIIL in 2001 and the majority shareholding in QIIL (51%) acquired by ICI India and its associates in 2001. Out of the total of 2,880,000 equity shares of QIIL, HLL had continued to hold 1,411,200 equity shares. HLL sold these shares to ICI India today for a consideration of Rs 54 crores. With this divestment, QIIL ceases to be a Joint Venture company of HLL.
About HLL
HLL is India's largest Fast Moving Consumer Goods company, touching the lives of two out of three Indians. HLL’s mission is to “add vitality to life” through its presence in over 20 distinct categories in Home & Personal Care Products and Foods & Beverages. The company meets everyday needs for nutrition, hygiene, and personal care, with brands that help people feel good, look good and get more out of life.
