The Hindu Business Line : HLL completes sale of holding in KICM (Madras)

HINDUSTAN Lever Ltd (HLL) has completed sale of 100 per cent shareholding in KICM (Madras) Ltd to two non-resident Indians (NRIs) named Mr Ramana Epparla and Ms Siva Epparla after receiving necessary approvals from the Foreign Investment Promotion Board (FIPB), the Government of India and the Reserve Bank of India (RBI).

Earlier, HLL had entered in to a memorandum of understanding (MoU) with these NRIs for disposal of the mushroom business effective from August 1, 2003, a company release said.

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