Unilever makes $5.4b offer to raise stake in India unit

Food giant Unilever on Tuesday announced a $5.4-billion offer to raise its stake in its Indian subsidiary, eyeing explosive sales of branded consumer items to the Asian country's growing middle class.
The Anglo-Dutch firm made an offer to buy another 22.5 percent of already majority-owned Hindustan Unilever (HUL) in a proposed deal that would increase its control to 75 percent.
The offer, which saw HUL shares surge, is part of Unilever's plan to increase its presence in emerging markets such as India, where HUL's products such as skin fairness cream "Fair and Lovely" and Lux soaps are best-sellers.