Unilever said today it had secured shares to increase its stake in Hindustan Unilever to 67.26%.
The company announced in April it planned to build up its shares in the company, from 52.48%. Growing the market-leading fmcg company in India has been identified as a strategic priority by Unilever CEO Paul Polman.
He said this week there were “tremendous opportunities” for growing its market share in developing countries.
Securities regulations in India require a minimum public shareholding of 25% for a company to maintain a public listing in the country.