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Unilever to swallow GSK's Indian Horlicks business

Reuters  |  LONDON 

LONDON (Reuters) - Unilever is to buy GlaxoSmithKline's Indian Horlicks nutrition business for around $3.8 billion, boosting the consumer goods group's position in a key emerging market.The deal, announced on Monday, marks a further step by drugmaker GSK to streamline its business and follows a competitive auction in which Unilever saw off rival Nestle, as well as earlier interest from Coca-Cola.The transaction covers GSK's health food and drinks portfolio in India, Bangladesh and 20 other predominantly Asian markets. The main asset being sold is GSK's 72.5 percent stake in Indian-listed ...

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First Published: Mon, December 03 2018. 14:54 IST