Unilever to raise stake in India unit in $5.4 billion offer

REUTERS - Anglo-Dutch company Unilever Plc, along with Unilever N.V. will acquire about 487 million shares, or 22.52 percent, of India's Hindustan Unilever in a deal valued at about $5.4 billion.

The parent company will buy the shares for 600 rupees (about $11) each, 20.6 percent premium to the Monday's closing price, the manager to the offer HSBC Securities and Capital Markets informed the stock exchanges on Tuesday.

(Reporting by Swati Pandey in Mumbai; Editing by Anand Basu)