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September, 2006 Pragati Maidan, New Delhi, India |
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HLL Puts Modern Food On The Block
Hindustan Lever, the country’s largest consumer goods company, is selling Modern Food, the company its is trying to turn around since many years.
Lever’s decision is based on a hard analysis of Modern Food’s current financial strength, market position and future prospects for growth. It is also derived from Lever’s own strategy of focusing on the core business of personal products, soaps and detergents and beverages and exiting non-core, non-essential areas.
“The company does not comment on market speculation,” a Lever spokesperson told a leading financial daily The process has already begun and preliminary interest has been shown by some buyers.
Date: 24-Jun-2006
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