Hindustan Unilever in pact to acquire Aquagel Chemicals
New Delhi: FMCG major Hindustan Unilever Ltd (HUL) Thursday said it has inked a pact with promoters of Aquagel Chemicals Pvt Ltd to acquire remaining 74 percent stake in the company.
HUL already holds an investment to the extent of 26 percent of the equity share capital of Gujarat-based ACPL.
"...The company has entered into a share purchase agreement with the promoters of Aquagel Chemicals Pvt Ltd (ACPL) for acquisition of 74 percent of the equity share capital of ACPL," HUL said in a filing to the BSE.
The company, however, did not share financial details.
"Consequent to the acquisition of remaining 74 percent of the equity share capital, ACPL has become a wholly owned subsidiary of Hindustan Unilever Ltd with effect from April 1, 2013," the company said.
Shares of Hindustan Unilever Thursday closed at Rs 469.90 apiece on the BSE, up 1.68 percent from its previous close.