$5.4bn deal is largest single Indian consumer goods investment

Linklaters has won a key role for Unilever on a $5.4bn (£4.5bn) deal to increase its stake in Hindustan Unilever, the publicly listed Indian subsidiary of the consumer goods giant.

The purchase, announced last week, saw Unilever's interest in the Indian business rise from 52.48% to 75%, at a price of INR600 (£7.15) per share. The deal is the largest single investment in the Indian consumer goods sector.

"This represents a further step in Unilever's strategy to invest in emerging markets and offers a liquidity opportunity at what we believe to be an attractive premium for existing shareholders," said Unilever CEO Paul Polman.

Slaughter and May has traditionally been Unilever's primary corporate adviser. However, the consumer goods company has also turned to Linklaters for several mandates in recent years, including its €390m (£330m) acquisition of an 82% stake in Russian beauty company Concern Kalina in 2011.

In 2010, former Linklaters partner Tonia Lovell became chief legal officer and company secretary of Unilever, after three years as the company's UK and Ireland general counsel.

Slaughters has handled the bulk of Unilever's major UK deals, and over the past two years has taken key roles for the company including advising on a $1bn (£643m) double-tranche bond issue and the €672m (£568m) sale of its Sanex personal care brand to Colgate-Palmolive.

Meanwhile, Linklaters has confirmed that partner John Goodwin – who headed the magic circle firm's team on the Unilever-Concern Kalina deal in 2011 – retired from the partnership last year. Earlier in the year, he had been elected to Linklaters' international board as head of Eastern Europe, Middle East, Africa and Sweden.