HUL ice-cream business demerger clears first hurdle after board nod
The board of directors of Hindustan Unilever (HUL) on Monday gave an in-principle approval to demerge the ice-cream business into an independent listed entity. Subject to necessary approvals and procedures, shareholders of HUL will receive shares in the new entity in proportion to their shareholding in the company, HUL said in a release. For the […]
HUL constitutes committee to evaluate ice cream business
Fast-moving Consumer Goods (FMCG) giant Hindustan Unilever Ltd (HUL) has constituted a committee, comprising its independent directors, to evaluate its ice cream business. The committee will evaluate the prospects of HUL’s ice cream business and will make recommendations to the board. “This follows the announcement, earlier this year, by the Company’s parent entity, Unilever PLC, about its […]
Will Indian moms forgive Cerelac and Bournvita?
Nestlé’s baby food brand Cerelac has found itself in the eye of a storm with a Swiss investigative organisation saying it contained high levels of added sugar in the products sold in India and other developing markets. As samples from the brand tested in European markets found no added sugar, Nestlé had to field […]
Unilever to spin off ice cream business, cut 7,500 jobs for cost savings
Unilever said on Tuesday it would spin off its ice cream unit, home to popular brands such as Magnum and Ben & Jerry’s, and cut 7,500 jobs in a new cost-savings programme. Investors cheered the plan, sending shares in Unilever, one of the world’s biggest consumer goods companies, up nearly 6 per cent at one […]