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Reports: Hindustan Unilever acquires remaining shares in Aquagel Chemicals

11:40 AM MDT | April 4, 2013 | Francinia Protti-Alvarez

Hindustan Unilever Ltd. (HUL; Mumbai), a subsidiary of Unilever, has become sole owner of Aquagel Chemicals (Bhavnagar, India) by buying the shares it did not own in the company, Indian media reports say. HUL already owned a 26% stake in the business, the reports say. No financial details were disclosed. Aquagel was established in 1992 as a sister company to Madhu Silica (Bhavnagar), which develops technology for silica manufacture with applications in the dental, personal-care, pharmaceutical, and detergent segments. HUL has more than 16,000 employees and...

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