Unilever raises stake in Indian unit to 67 percent
(Reuters) - Anglo-Dutch consumer goods company Unilever (ULVR.L) (UNc.AS) said it had acquired a little over two-thirds of Indian unit Hindustan Unilever (HLL.NS) following the close of a voluntary tender offer, falling short of its plan to raise its stake to as much as 75 percent.
Shareholders of Hindustan Unilever, India's largest consumer goods maker, tendered 319.7 million shares to the offer, taking Unilever's holding in the unit to 67.28 percent from 52.48 percent, Unilever said in a statement.
Unilever, which makes products including detergent, soap, margarine and ice cream, paid 600 rupees ($9.90) per share, valuing the transaction at about 2.45 billion euros ($3.16 billion).
Earlier this year, Unilever said it planned to pay up to $5.4 billion to raise its stake in Hindustan Unilever to as much as 75 percent, as part of a strategy to increase its presence in fast-growing emerging markets.
(Reporting by Abhishek Takle in Bangalore; Editing by Dale Hudson)
SAN FRANCISCO - At Pinterest, the online bulletin board service that is valued near $3.8 billion, some 70 percent of the users are female. But the company's board of directors is 100 percent male.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.