Hindustan Unilever in pact to acquire Aquagel Chemicals

NEW DELHI: FMCG major Hindustan Unilever Ltd ( HUL) today said it has inked a pact with promoters of Aquagel Chemicals Pvt Ltd to acquire remaining 74 per cent stake in the company.

HUL already holds an investment to the extent of 26 per cent of the equity share capital of Gujarat-based ACPL.

"...The company has entered into a share purchase agreement with the promoters of Aquagel Chemicals Pvt Ltd (ACPL) for acquisition of 74 per cent of the equity share capital of ACPL," HUL said in a filing to the BSE.

The company, however, did not share financial details. "Consequent to the acquisition of remaining 74 per cent of the equity share capital, ACPL has become a wholly owned subsidiary of Hindustan Unilever Ltd with effect from April 1, 2013," the company said.

Shares of Hindustan Unilever today closed at Rs 469.90 apiece on the BSE, up 1.68 per cent from its previous close.