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Hindustan Lever seeks partners for two units

Hindustan Lever Ltd, India's third-largest private company by sales, is scouting for partners for two minor businesses as part of its efforts to focus on core areas, the company said on Friday.

The Bombay-based company, which is 51-per cent owned by Anglo-Dutch consumer goods giant Unilever Plc, said it was looking for partners for its mushrooms unit and its shoes and leather business.

With combined sales of Rs 960 million in 2000, the units constituted less than one per cent of Lever's total net turnover of Rs 106.03 billion.

Lever also said it was reviewing its existing joint venture with US-based S C Johnson & Sons due to heavy losses.

The 50:50 joint venture was formed in the mid-1990s to market household insect repellent products, but government restrictions have stunted growth at the firm.

Lever shares fell 0.9 per cent to close at Rs 199.90 while the main Bombay index fell 0.64 per cent on Friday.

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