April 30, 2013 / 8:56 AM / 5 years ago

Unilever will not increase stake in Indian arm beyond 75 pct-exec

MUMBAI, April 30 (Reuters) - Anglo-Dutch consumer goods giant Unilever Plc does not intend to increase its stake in Indian arm Hindustan Unilever beyond 75 percent, James Allison, head of investor relations and M&A, told Indian television channel CNBC-TV 18 on Tuesday.

Earlier in the day Unilever offered to pay as much as $5.4 billion to raise its stake in its Indian unit, banking on fast-growing spending power in Asia’s third-largest economy.

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