Hindustan Unilever Ltd (HUL), the FMCG major has got the fair trade regulator CCI’s approval for selling its rice exports business to Delhi-based LT Foods.

In March, the deal was announced and allows the transfer of brands and inventory to LT Foods for Rs 25 crore that owns Dawat basmati rice brand.

The Competition Commission of India (CCI) has said in a tweet that it has approved “acquisition of rice business of HUL by LT Foods”.

According to the company, HUL’s decision to sell the business is in line with its strategy to exit non-core operations while continuing to drive its growth agenda in the core packaged foods segment.

Read EquityPandit’s Nifty FMCG outlook for this week