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HUL shares spike on property sale deal


HUL shares spike on property sale deal
The shares of Hindustan Unilever rose today, on reports that the company had sold its Worli property. The shares of the company were trading up by 1% at Rs 403.50 at 12.30 PM IST.

"HUL and entities of Piramal Realty (Ajay Piramal Group) have signed an agreement for assignment of the former's leasehold rights of the land and building named 'Gulita' situated at Worli sea face for a transaction value of Rs 452.5 crore. The consideration includes both fixed and variable components," the company said in a statement.


Gulita, which was constructed in 1986, was put on sale soon after the FMCG giant moved its training centre to suburban Andheri.

Many corporates had shown interest in the premier Gulita property including the like of the Anil Dhirubhai Ambani Group.

Hindustan Unilever is one of the nation's top fast moving consumer goods companies which owns some of the top brands in the consumer space.

Read more about: hul bse
Story first published: Monday, April 9, 2012, 12:44 [IST]
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