Hindustan Unilever Ltd.'s (500696.BY) board Tuesday approved a pact where the company will pay parent Unilever PLC (UL) royalty on the use of some brands.

Mumbai-listed Hindustan Unilever said in a statement to the Bombay Stock Exchange that it will pay 1% of net sales on the use of these brands, the trademarks for which are held by Unilever.

The agreement will take effect on Jan. 1.

-By Satish Sarangarajan, Dow Jones Newswires; +91 22 6145 6120; satish.sarangarajan@dowjones.com
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