Rediff Logo
 Money
Line
Channels: Astrology | Broadband | Contests | E-cards | Money | Movies | Romance | Search | Wedding | Women
Partner Channels: Bill Pay | Health | IT Education | Jobs | Technology | Travel
Line
Home > Money > Reuters > Report
June 25, 2001 		Feedback  
  Money Matters

 -  Business Special
 -  Business Headlines
 -  Corporate Headlines
 -  Columns
 -  IPO Center
 -  Message Boards
 -  Mutual Funds
 -  Personal Finance
 -  Stocks
 -  Tutorials
 -  Search rediff

    
      

 
Reuters
 Search the Internet
         Tips
 Sites: Finance, Investment
E-Mail this report to a friend
Print this page

Hind Lever says can exit ICI joint venture after 5 yrs

India's largest consumer goods company Hindustan Lever Ltd can exit a planned flavours and fragrances joint venture with chemicals group ICI at the end of five years, a company official said on Monday.

A HLL spokesman said that shareholders had approved late on Friday the company's plan to spin off its flavours and fragrances division into a joint venture with ICI India and Quest International BV.

HLL plans to hold a 49 per cent stake and ICI Ltd and Quest will share the remaining 51 per cent.

A HLL notice to shareholders said that although both parties planned to have a long-term joint venture, it had the option to ask ICI to buy its 49 per cent shareholding after five years.

ICI can also ask HLL to sell its stake, after five years, it said.

Hindustan Lever is a 51 per cent owned subsidiary of Anglo-Dutch conglomerate Unilever Plc.

Back to top
(c) Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Tell us what you think of this report