HUL completes purchase of 51 per cent stake in Zywie Ventures

Hindustan Unilever Ltd (HUL) has completed the acquisition of a 51 per cent stake in Zywie Ventures for a consideration of Rs 264.28 crore. Now, Zywie Ventures, a wellness company, has become a subsidiary of HUL. 

 

On December 8 last year, HUL announced it will acquire a 51 per cent stake in Zywie Ventures, marking its entry into the health and wellbeing segment.

 

In the regulatory filing, the company said that "Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, it is now informed that Hindustan Unilever Limited (“the Company”) has completed the acquisition of 51% shareholding of Zywie for a total consideration of INR 264.28 Crores for the first tranche, in accordance with the terms and conditions of the Definitive Agreements dated 8th December, 2022."

 

As per the agreement, HUL will acquire the remaining 49 per cent in the next 36 months based on pre-agreed valuation criteria, it had said.

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