Unilever: ahead of Nestlé for Indian nutrition business
(CercleFinance.com) - According to the Financial Times (FT), Unilever would have beaten Nestlé in the running, and has entered into exclusive negotiations to buy GlaxoSmithKline's (GSK) Indian Nutrition division, which includes the popular Horlicks malt beverage.
The sale will be made for around four billion dollars, or about 3.5 billion euros at current exchange rates.
The FT adds that the Anglo-Dutch group would have beaten Nestlé, which was also interested in this asset. The American giant Coca-Cola was also shortlisted as a potential buyer, although it stepped down recently due to the asking price, the FT adds.
If successful, Unilever could further strengthen its presence in India, which is already its main emerging market.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The sale will be made for around four billion dollars, or about 3.5 billion euros at current exchange rates.
The FT adds that the Anglo-Dutch group would have beaten Nestlé, which was also interested in this asset. The American giant Coca-Cola was also shortlisted as a potential buyer, although it stepped down recently due to the asking price, the FT adds.
If successful, Unilever could further strengthen its presence in India, which is already its main emerging market.
Copyright (c) 2018 CercleFinance.com. All rights reserved.