Consumer goods companies Unilever, Nestle and Coca-Cola have begun their groundwork on GlaxoSmithKline Consumer’s Indian nutrition business which runs Horlicks and Boost, The Economic Times reported.
According to the report, Morgan Stanley and Greenhill are advising GSK in the deal.
Apart from the above-mentioned companies, Pepsi-Co, Reckitt Benckiser, General Mills, Danone, Kellogg, ITC and private equity fund KKR have also shown interest in the stake sale, the report said, adding that these companies either dropped out or didn’t make it to the second round of bids.
“Earlier this year, GSK had announced a strategic review for its nutrition business globally. The review is expected to be concluded in December, 2018,” a GSK Consumer Healthcare spokesperson told the paper.
However, HUL, Nestle and Coca-Cola refused to comment on the ‘speculation’, the report added.
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