homevideos Newsretail NewsHUL to buy Horlicks maker GSK's India consumer business for Rs 31,700 crore
HUL to buy Horlicks maker GSK's India consumer business for Rs 31,700 crore
HUL has clinched the deal to buy Horlicks maker GSK's India consumer business.
HUL will merge GSK consumer healthcare with itself and will allot 4.39 equity shares for 1 share of GSK cons healthcare in the all-equity deal.
The deal values the total business of GSK consumer at Rs 31,700 crore
HUL's parent Unilever will buy brand Horlicks from GSK plc. Brands like Boost, Viva and Maltova will be retained by the merged entity.
GSK PLC will own 5.7 percent of the merged entity post the deal. Unilever shareholding in merged entity will be 61.9 percent vs 67.2 percent prior to the merger.
The deal will be completed in one year subject to approvals. HUL will distribute GSK's OTC products for 5 years. HUL expects synergy benefits of 800-1,000 bps to margins post this deal.
First Published: Dec 3, 2018 4:29 PM IST
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