Unilever Completes Horlicks Acquisition From GSK
Unilever has announced that Hindustan Unilever (HUL), India’s largest fast-moving consumer goods company and Unilever’s listed subsidiary in India, has successfully completed the merger with GlaxoSmithKline Consumer Healthcare (GSKCH). The proposed merger with GSKCH was announced on 3rd December 2018, in line with HUL’s strategy to evolve its Foods and Refreshment portfolio into higher growth segments, subject to obtaining necessary approvals.
All approvals have now been secured. Following completion of the transaction, Unilever’s holding in HUL will be diluted from 67.2% to 61.9%.
Unilever has also completed the related acquisition of Horlicks brands rights and other consumer healthcare nutrition assets from GSK in other predominantly Asian markets. Bangladesh closing is expected to follow later this quarter, subject to local procedures.
