Unilever will not increase HUL stake beyond 75 percent - Exec

Last Updated: Tue, Apr 30, 2013 09:32 hrs

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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