India's Colgate-Palmolive sells Nepal unit

MUMBAI, Nov 20 (Reuters) - India's Colgate-Palmolive (COLG.BO) said on Thursday it sold its wholly owned unit in Nepal, but did not disclose how much it got from the sale.

The maker of toothpastes and men's grooming products said it signed a contract manufacturing agreement with Nepal's Everest Hygiene Products Pvt Ltd, the new owners, to source toothpowder from the factory in the tiny Himalayan country.

Ahead of the announcement, shares in Colgate closed 0.3 percent down at 388.55 rupees in a weak Mumbai market .BSESN that fell 3.7 percent. (Reporting by Janaki Krishnan)