Hindustan Unilever completes acquisition of 51% stake in Zywie Ventures

12 Jan 2023 , 10:57 AM

Hindustan Unilever Ltd. announced on Wednesday that it had completed the acquisition of a 51% stake in Zywie Ventures for Rs264.28 crore. HUL has now made Zywie Ventures, a wellness company, it’s subsidiary.

HUL announced on December 8, 2021, that it would acquire a 51% stake in Zywie Ventures, marking its entry into the health and wellness segment.

According to the agreement, HUL will acquire the remaining 49% within the next 36 months based on pre-agreed valuation criteria. The first tranche of the 51% acquisition has been completed.

Hindustan Unilever Limited is a subsidiary of Unilever, a global supplier of Food, Home Care, Personal Care, and Refreshment products with sales in over 190 countries. Forbes named HUL the most innovative company in India and the eighth most innovative company in the world.

At around 9.56 AM, Hindustan Unilever was trading 0.52% lower at Rs2,579.65 apiece, against the previous close of Rs2,593.25 on NSE. The counter opened at Rs2,586.10 and touched an intraday high and low of Rs2,602.60 and Rs2,577.15 respectively.

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