FMCG giant Hindustan Unilever Limited has announced the demerger of its ice cream business, which includes popular brands such as Kwality Wall's, Cornetto, and Magnum, into a separate listed entity. Rationale for Demerger HUL noted that its ice cream business, which contributes about 3 per cent to the company’s top line, operates under a distinct model that includes a specialised …
ITC Ltd. board has given in-principle approval for the demerger of its hotels business and to incorporate a wholly owned subsidiary called ITC Hotels. “After due consideration, the Board accorded its in-principle approval to the demerger of Hotels Business under a scheme of arrangement, with the Company holding a stake of about 40% in the new entity and the balance …
