Hindustan Unilever's (HUL) $5.4 billion deal with parent Unilever Plc is the largest Asia-Pacific cross border inbound merger and acquisition (M&A) deal so far this year.
The Anglo-Dutch consumer goods giant will spend $5.4 billion (over Rs 29,380 crore) to hike stake in HUL to 75 per cent through an open offer.
Unilever will pay Rs 600 a share in an open offer to raise its stake in the India arm to 75 per cent from the current 52.48 per cent.
According to global deal tracking firm Dealogic, the stake buy deal is the fifth largest India inbound M&A transaction on record till date.
It is also the second largest Asia (ex-Japan) targeted transaction in 2013, behind CP All Plc's $6.6-billion takeover bid for Siam Makro pcl, announced on April 23.
The largest inbound transaction on record is Vodafone's 67 per cent stake acquisition in the Hutchison-Essar Ltd (HEL) from Hong Kong-based Hutchison Group in 2007.
Other major inbound deals - wherein a foreign company or its subsidiary had acquired an Indian entity - in the past, includes BP's $9 billion acquisition of Reliance Industries' oil & gas assets; acquisition of Cairn India by NRI billionaire Anil Agarwal led-Vedanta Resources for over $8 billion; Japanese drug major Daiichi Sankyo Company's acquisition of majority stake in Ranbaxy Laboratories Ltd for up to $4.6 billion and US-based Abbott's acquisition of Piramal Healthcare's domestic formulation business for $3.72 billion.
With inputs from PTI