GSK: sells 5.7% stake in Hindustan Unilever

(CercleFinance.com) - British drugmaker GlaxoSmithKline said on Thursday that it has sold over 133 million shares of Hindustan Unilever Limited, making gross proceeds of approximately 3.
1 billion pounds.

For the record, GSK acquired a 5.7% stake in Hindustan Unilever Limited (HUL) after its Indian-listed entity, GSK India, merged with HUL.

While GSK originally announced expected net proceeds of approximately 2.4 billion pounds, the divestment should be around 2.9 billion pounds, the drugmaker said.

Following the completion of the sale, GSK will no longer hold any HUL shares.

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