Hindustan Unilever Sells Remaining Stake In Back-Office Services Business
29 March 2010 - 9:02PM
Dow Jones News
Hindustan Unilever Ltd. (500696.BY) said Monday it has sold the
remaining 49% stake in its erstwhile captive business process
outsourcing unit to French information technology services company
Capgemini (CAP.FR).
In a statement to the Bombay Stock Exchange, India's largest
consumer goods maker by sales said it had in September 2006 agreed
to sell 51% of Unilever India Shared Services Ltd., which was later
renamed Capgemini Business Services India Ltd. In October 2006, the
Unilever PLC (ULVR.LN) unit signed another deal to sell the
remaining stake to Capgemini by March 31, 2010.
The statement didn't provide any financial terms of the
deal.
-By Ameya Karve, Dow Jones Newswires; +91-22-6145-6121;
ameya.karve@dowjones.com
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