HUL To Exit Joint Venture With U.S.-Based Kimberly-Clark

Monday, October 2, 2017 11:15 am

HUL To Exit Joint Venture With U.S.-Based Kimberly-Clark | Kimberly-Clark, India,

INDIA (From news reports) -- Hindustan Unilever Ltd. has decided to divest its entire stake in joint venture Kimberly-Clark Lever Pvt Ltd. to its other partner Kimberly-Clark Cooperation.

The company has signed an agreement for divestment of its 50 percent shareholding in KCLL, in favour of KCC, the company said in an exchange filing. The Kimberly-Clark Lever Pvt Ltd, set up in 1995, is the maker of Huggies diapers and Kotex sanitary napkins in India.

The company said the decision to divest stake in the partnership is part of the its objective to focus on its core business.

Accordingly, KCLL would now cease to be a joint venture of HUL. The release, however, said the company would work with KCC to ensure smooth transition for the business.

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