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Time of India
4 days ago
- Business
- Time of India
Unilever's demerged ice cream entity to acquire 61.9 pc stake in Kwality Wall's
Global FMCG major Unilever on Wednesday said Magnum HoldCo will acquire 61.9 per cent of Kwality Wall's (India) Ltd. Magnum HoldCo is the holding firm within the new firm formed by the demerger of the ice cream business of Unilever. On March 19, 2024, Unilever PLC announced to separate its global ice cream business into a stand-alone business. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free IELTS Cheat Sheet IELTS Prep Pro IELTS Prep Pro Learn More Undo The separation of the global ice cream business is expected to be completed in the fourth quarter of 2025 and the new company is known as 'The Magnum Ice Cream Company ', Unilever said in a statement. In India, the company's subsidiary Hindustan Unilever Ltd (HUL) on January 22 this year announced to demerge its ice cream business into an independent entity -- Kwality Wall's (India) Ltd (KWIL). On completion of the demerger, HUL shareholders get one share of KWIL for each HUL share. Live Events As a result, the Unilever Group is expected to hold 61.9 per cent of the issued and paid-up share capital of KWIL, following the completion of the India demerger, the company said. "The Magnum Ice Cream Company HoldCo 1 Netherlands BV (Magnum HoldCo), The Magnum Ice Cream Company BV and entities within the Unilever Group have today entered into a share purchase agreement (SPA) pursuant to which Magnum HoldCo has agreed to acquire all of the KWIL shares to be issued to the Unilever Group as a result of the India demerger i.e., 61.9 per cent of the issued and paid-up share capital of KWIL," the statement said. The completion of the acquisition of these shares is subject to the fulfilment of certain conditions in the SPA, including the successful demerger of KWIL from HUL, and listing of KWIL shares, and receipt of requisite statutory and other approvals, it added. Also, it will be subject to Magnum HoldCo making an open offer to the public shareholders of KWIL for additional shares of KWIL in accordance with the Securities and Exchange Board of India takeover regulations, the statement said.
Time of India
22-06-2025
- Health
- Time of India
Nine hospitalised, 200 evacuated after chemical leak at Melbourne pool during routine maintenance
A routine Friday evening(June 20) swim turned into a nerve‑racking emergency at the Broadmeadows Aquatic and Leisure Centre when a chemical reaction during maintenance sent a cloud of sodium hydrogen sulphate, a common pH‑adjusting agent, through the air, sickening nine people and forcing around 200 visitors to evacuate. What happened At 6:15 pm on June 20, patrons reported a gas‑like smell in the building. Fire Rescue Victoria rushed in within six minutes and discovered that the most affected were children. Eight kids and one adult were taken to local hospitals in stable condition, six to Sunshine Hospital, three to the Royal Children's Hospital. Emergency teams worked quickly to ventilate the centre, and by 8:16 pm, it was deemed safe to re‑enter. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free IELTS Cheat Sheet IELTS Prep Pro IELTS Prep Pro Learn More Undo Centre staff also stepped into the spotlight. Hume City Council credited their team's calm but firm evacuation and swift coordination for helping avert a worse outcome. A council spokeswoman said evacuees have been in touch and 'we understand they are all doing well'. Cause of the incident Hazmat units confirmed the culprit was sodium hydrogen sulphate, often used in pools to safely adjust pH levels. The reaction occurred during standard pool cleaning and no foul play is suspected. WorkSafe and Victoria Police launched investigations, while the Hume City Council began an internal review to ensure this doesn't recur. Live Events The incident raises questions about safety checks in recreational facilities used by families and children. Council officials confirmed all swim lessons resumed the next morning, after WorkSafe cleared the facility. Now, stakeholders await clarity from the internal review on what triggered the chemical imbalance.
Time of India
20-06-2025
- Business
- Time of India
Bengaluru's BMTC extends NICE road bus services, adds new routes, Rs 1,400 monthly pass, and weekend package tour
After the successful launch of its express bus services on NICE Road between Madavara and Electronics City, the Bengaluru Metropolitan Transport Corporation (BMTC) has now added five more routes to its network. The newly introduced express buses will run on the following routes: Majestic – Attibele Banashankari TTMC – Attibele Majestic – Devanahalli Banashankari TTMC – Devanahalli Majestic – Nelamangala These express services aim to improve travel time and provide better comfort for commuters in busy parts of Bengaluru. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free IELTS Cheat Sheet IELTS Prep Pro IELTS Prep Pro Learn More Monthly Pass at Rs 1,400 BMTC has also launched a new monthly bus pass priced at Rs 1,400. This pass allows unlimited travel on all ordinary services, including buses running on NICE Road. However, it does not include full access to premium services. Pass holders can still use Vajra express buses but must pay any toll charges separately. New Weekend Package Tour In another exciting update, BMTC has started a weekend package tour to the Ghati–Isha Foundation. This tour will be operated using air-conditioned buses and will cost Rs 600 per person. The fare includes all charges, and the trip will begin at 9 am with a return to Bengaluru by 7 pm. Live Events BMTC said the move is aimed at giving city residents better transport options both for daily commuting and short weekend getaways. Inputs from TOI
