Shares of Hindustan Unilever rose 1% in morning trade on February 20 as the company plans to sell its atta and salt brands for Rs 604 crore.

Hindustan Unilever has entered into final documents for the sale and divestment of the ‘Annapurna’ and ‘Captain Cook’ brands in the atta and salt categories of the company’s food business to Uma Global Foods Pte Ltd and Uma Consumer Products Private Limited, affiliates/CSAW Aqbator Pte Ltd (Singapore) nominees said in their press release.

The sale and divestment are subject to the terms and conditions set out in the transaction documents. The transaction is expected to close within 90 days, subject to any extensions and subject to the terms of the transaction documents.

The company stated that the transaction is neither a low-price sale nor a related party transaction.

The deal envisages the transfer of trademarks, copyrights and other intellectual property rights related to India and several other territories.

At 9:26 am, Hindustan Unilever was quoted at Rs 2,537.60, up Rs 22.55 or 0.9% on the BSE.