FMCG major Hindustan Unilever Limited (HUL) has entered into a share purchase agreement with Kimberly-Clark Corporation, U.S.A. (KCC) for the divestment of its entire 50% shareholding in their joint-venture with Kimberly-Clark Lever Private Limited, through which it sold baby and feminine care brands Huggies and Kotex, in favour of KCC as reported by The Economic Times & Bloomberg Quint

Vaish Associates associate partner Krishna Kishore led the deal for Hindustan Unilever, with partner Bomi Daruwala along with regional head (South) and partner Martand P Singh and associate Saras Muzumdar. Vaish advised HUL on all aspects relating to the sale of shares which involved drafting, negotiating and finalizing of definitive agreements.

Gibson Dunn & Crutcher Singapore based partner Jai S Pathak and associate attorney Karthik Ashwin Thiagarajan acted and represented for Kimberly-Clark in the deal.

The deal was entered into on 29 September 2017 and it is said that the decision made is a part of HUL’s strategy to focus on its core business.