After the acquisition of a 51 percent stake for a consideration of Rs 264.28 crore, Zywie Ventures has become a subsidiary of HUL
New Delhi: FMCG major Hindustan Unilever Ltd on Wednesday said it has completed the acquisition of a 51 percent stake in Zywie Ventures for a consideration of Rs 264.28 crore.
Now, Zywie Ventures, a wellness company, has become a subsidiary of HUL.
“HUL has completed the acquisition of 51 percent shareholding of Zywie for a total consideration of Rs 264.28 crore for the first tranche, in accordance with the terms and conditions of the definitive agreements dated 8th December 2022,” according to a regulatory filing.
On December 8 last year, HUL announced it will acquire a 51 percent stake in Zywie Ventures, marking its entry into the health and wellbeing segment.
As per the agreement, HUL will acquire the remaining 49 percent in the next 36 months based on pre-agreed valuation criteria, it had said.
