The Hindu Business Line : Shareholders okay transfer of HLL unit to Johnson Wax

THE shareholders of Hindustan Lever Ltd (HLL) have approved the transfer of the company's business of industrial and institutional cleaning, known as Diversey Lever, to Johnson Wax Professional Private Ltd.

The shareholders have approved the transfer by a vote of 99.89 per cent.

The company had sought shareholders' approval by means of postal ballot.

The board had appointed Mr K.M. Powvala, a former senior partner of A.F. Ferguson & Co, chartered accountants, as scrutiniser for conducting the postal ballot.

As per Mr Powvala's report, 1,28,57,61,084 votes were in favour and 13,92,057 votes against the resolution.

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