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Mumbai, Nov. 21 Colgate-Palmolive India Ltd has announced that it has sold its shareholding in the wholly owned subsidiary Colgate Palmolive (Nepal) Pvt Ltd to Everest Hygiene Products Pvt Ltd, Nepal. Concurrent with the sale, the company has signed a contract manufacturing agreement to continue to source toothpowder from the factory in Hetauda, Nepal, thus providing for continuity of operations at the plant and exports from Nepal. All employees of Colgate -Palmolive (Nepal) Pvt Ltd will continue their employment on the existing terms and conditions under the new ownership, according to a notice to the BSE.

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