GSK: to sell Horlicks and other nutrition brands to Unilever
(CercleFinance.com) - GlaxoSmithKline will sell its Indian malted milk hot drink Horlicks and other consumer healthcare nutrition brands to Unilever as part of its strategic review, the British drug maker said on Monday.
The deal includes the planned merger of GSK India with Hindustan Unilever Limited (HUL) for a total consideration of approximately 3.1 billion pounds, it said.
In all, net proceeds are estimated to be approximately 2.4 billion pounds, GSK said.
In India, Horlicks and other nutrition products are sold by GSK India, in which GSK has a 72.5% stake.
Proceeds will be used to support the group's strategic priorities and reduce debt. The transaction is expected to have a neutral impact on earnings, GSK said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The deal includes the planned merger of GSK India with Hindustan Unilever Limited (HUL) for a total consideration of approximately 3.1 billion pounds, it said.
In all, net proceeds are estimated to be approximately 2.4 billion pounds, GSK said.
In India, Horlicks and other nutrition products are sold by GSK India, in which GSK has a 72.5% stake.
Proceeds will be used to support the group's strategic priorities and reduce debt. The transaction is expected to have a neutral impact on earnings, GSK said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.