NEW DELHI Hindustan Unilever Ltd
(HUL) on Tuesday said it will seek
shareholders' approval to transfer certain assets, liabilities and properties of FMCG exports business division of the company to Unilever India Exports. In a filing to BSE, HUL said it has been directed by the Bombay High Court to hold a meeting of its shareholders on July 28, 2011 to consider the scheme of arrangement proposed to be made between HUL and Unilever India Exports. The company's Board of Directors at its meeting held on May 9, 2011 had approved a proposal for demerger of FMCG exports business, including specific exports related manufacturing units of the company, into its wholly-owned subsidiary Unilever India Exports Ltd (UIEL), with effect from April 1, 2011. — PTI
(HUL) on Tuesday said it will seek
shareholders' approval to transfer certain assets, liabilities and properties of FMCG exports business division of the company to Unilever India Exports. In a filing to BSE, HUL said it has been directed by the Bombay High Court to hold a meeting of its shareholders on July 28, 2011 to consider the scheme of arrangement proposed to be made between HUL and Unilever India Exports. The company's Board of Directors at its meeting held on May 9, 2011 had approved a proposal for demerger of FMCG exports business, including specific exports related manufacturing units of the company, into its wholly-owned subsidiary Unilever India Exports Ltd (UIEL), with effect from April 1, 2011. — PTI
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