HUL signs deal to dilute stake in JV with Kimberly-Clark

Firm wants to reduce its share in Kimberly-Clark Lever Pvt Ltd, where it currently holds 50%

Hindustan Unilever Ltd (HUL) signed a deal for the divestment of its 50 per cent stake in its joint venture with the US-based Kimberly-Clark Corp on Friday.

The Kimberly-Clark Lever Pvt Ltd, set up in 1995, is the maker of Huggies diapers and Kotex sanitary napkins in India. The US personal care multinational was recently identified as one of the key players in Indian market by a report titled "India Incontinence Devices Market Outlook to 2023".