Mumbai, Sep 01: Hindustan Lever Ltd (HLL) has completed the transfer of its edible oils and fats business in India and Nepal to Bunge Ltd, following the signing of necessary documents on August 28. The HLL board had granted an in-principle approval to the transaction on June 20, 2003. Subsequently, HLL shareholders approved the transfer through a postal ballot, the results of which were announced on august one, 2003, an HLL press release said here today.

The divestment of the business is in line with the FMCG company's focussed business strategy and rationalisatin of its existing brand portfolio.
The edible oils and fats business comprised manufacture and marketing of vansapati, refined oils and bakery fats.

Bureau Report