GlaxoSmithKline plans to sell stake in Unilever's India unit - Bloomberg News
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- India
British drugmaker GlaxoSmithKline plc is planning a sale of its $3.7 billion stakes in Unilever Ltd's listed India unit, Bloomberg News reported on Wednesday, citing people familiar with the matter. GSK plans to offload part or all of its 5.7% holding in Hindustan Unilever Ltd (HUL) through a series of block trades, according to Bloomberg News.
In December 2018, Unilever struck a deal to buy GSK's Horlicks nutrition business for $3.8 billion, boosting the Anglo-Dutch group's position in India. The deal consideration was paid in cash and shares of HUL and was completed earlier this month. A GSK spokesman declined to comment on the matter. Hindustan Unilever did not immediately respond to a request for comment.
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