Unilever announces completion of Horlicks acquisition from GSK
London/ Rotterdam - Unilever today announced that Hindustan Unilever Limited (HUL), India’s largest fast-moving consumer goods company and Unilever’s listed subsidiary in India, has successfully completed the merger of GlaxoSmithKline Consumer Healthcare Limited (GSKCH) with HUL.
HUL announced the merger of GlaxoSmithKline Consumer Healthcare Ltd with HUL on 3rd December 2018, in line with the company’s strategy to evolve the Foods and Refreshment portfolio into higher growth segments, subject to obtaining necessary approvals. All approvals have now been secured. As previously indicated, 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.
Where relevant, these actions are subject to the appropriate consultations and approvals.
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