Latest news with #KWIL
Time of India
25-06-2025
- 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
07-05-2025
- Business
- Time of India
Cabinet clears compensation for families along Parvathy Puthanar
Thiruvananthapuram: In a significant step for the West Coast Canal development project ( Kovalam-Bekal waterway ), the state cabinet has approved the valuation of homes belonging to families living on govt land (puramboke) along the Kovalam–Akkulam stretch. The move ensures fair compensation for those who lack legal land ownership but have built homes over the years along the Parvathy Puthanar Canal .These families, often residing with limited resources and without title deeds, had raised concerns about compensation and relocation benefits. The cabinet's decision to recognise the value of their structures brings relief to many facing displacement due to the waterway K Jacob, director of the inland navigation department, confirmed that valuation approval has been granted for 68 such homeowners. Each family will receive compensation for their building structures in addition to a fixed amount of Rs 11 lakh. "The proceedings are progressing swiftly. While land acquisition in the Kovalam–Akkulam stretch is still lagging, acquisition from Akkulam to Varkala is nearly complete. We hope to open the Akkulam–Chettuva (Thrissur) stretch by July," he project has faced delays due to legal hurdles involving 474 families without proper land records. Despite earlier promises to complete compensation by March 31, only 289 families have received payments so far. The remaining acquisitions are now expected to be completed by development involves widening the canal to 25 meters, with a five-meter service road on both sides for improved navigation and maintenance. The Coastal Shipping and Inland Navigation Department, along with Kerala Waterways and Infrastructure Limited (KWIL), is implementing the project under a special-purpose vehicle that includes Cochin International Airport Ltd and the state initiative aims to revitalise Parvathy Puthanar, improve inland water transport, and strengthen regional connectivity.
