Unilever cleared to increase Hindustan stake from June 21

Plans to increase its stake in HUL to as much as 75%

Unilever said on Thursday it would start to increase its stake in its Hindustan business from June 21 after it gained approval from the Indian market regulator.

The Anglo-Dutch giant said in April it would pay up to $5.4 billion to raise its stake in its Indian subsidiary, India's largest consumer goods maker, to as much as 75% from 52% at present.