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HUL divests stake in Kimberly-Clark Lever

Posted By: Doraiah Vundavally September 29, 2017

HUL divests stake in Kimberly-Clark LeverMumbai, Sep 29 (IANS) Hindustan Unilever on Friday said its board has approved its decision to divest its stake in Kimberly-Clark Lever (KCL) and focus on its core businesses.

According to the company, it has signed an agreement for divestment of its 50 per cent shareholding in KCL in favour of Kimberly-Clark Corporation, US.

"This decision is in line with the company's objective to focus on its core business," the company said in a BSE statement.

 

"Accordingly, KCL shall cease to be a joint venture of the company," it added. KCL makes and sells the "Kotex" and "Huggies" brands since 1995.

"The company shall work with KCC to ensure a smooth transition for the business," the statement added.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)

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HUL divests stake in Kimberly-Clark Lever

About VDC

Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.