HUL arm sells some leather biz assets to Hindustan Foods

New Delhi: FMCG major Hindustan Unilever Ltd (HUL) on Friday said its subsidiary Pond’s Exports Ltd will sell certain movable assets and inventory of its leather business to Hindustan Foods Ltd for an undisclosed sum.

“Pond’s Exports Ltd (PEL), a subsidiary of Hindustan Unilever Ltd, engaged in the business of manufacturing of leather products, has entered into an agreement with Hindustan Foods Ltd for sale of certain movable assets and inventory with respect to the leather business of PEL," HUL said in a BSE filing.

Hindustan Foods said, “This marks the entry of Hindustan Foods Ltd in the leather shoes exports space with a global clientele".

Shares of HUL were trading 0.88% higher at Rs824.40 on BSE.