Hindustan Lever Ltd (HLL) has announced that on May 26, 2006, the Company has divested its holding of 49% of equity share capital of Quest International India Ltd (QIIL). The Company had transferred the flavours and fragrances business into QIIL in 2001 and the majority shareholding in QIIL (51%) acquired by ICI India and its associates in 2001. Out of the total of 2,880,000 equity shares of QIIL, the Company had continued to hold 1,411,200 equity shares. The Company sold these shares to ICI India on May 26, 2006 for a consideration of Rs 540 million. With this divestment, QIIL ceases to be a Joint Venture Company of the Company.