According to the company, it has signed an agreement for divestment of its 50 per cent shareholding in KCL in favour of Kimberly-Clark Corporation, US.
“This decision is in line with the company’s objective to focus on its core business,” the company said in a BSE statement.
“Accordingly, KCL shall cease to be a joint venture of the company,” it added. KCL makes and sells the Kotex and Huggies brands since 1995.
“The company shall work with KCC to ensure a smooth transition for the business,” the statement added.