Last week, Hindustan Unilever (HUL) announced the merger of Glaxo SmithKline Consumer (GSK Consumer) with it, in a deal valuing the latter at ₹ 31,700 crore. In addition, the board of directors of HUL have approved HUL acquiring the Horlicks brand for India from GSK for a consideration of Euro 375.6 mln (INR 3045 Cr). - Our purpose is to make sustainable living commonplace.We make some of the world’s best-known brands – all are on a journey to reducing their environmental footprint and increasing their positive social impact.Our vision is a new way of doing business – one that delivers growth by serving society and the planet.What’s happening at Unilever? Following the issue of new HUL shares, Unilever‘s holding in HUL will be diluted from 67.2% to 61.9%.The merger includes the totality of operations within GSK CH India, including a consignment selling contract to distribute GSK CH India’s Over-the-Counter and Oral Health products in India.The transaction is expected to be completed in one year subject to regulatory and shareholder approvals.

We look forward to welcoming new brands and great talent into the Unilever and HUL family, once the transaction is complete.”The GSK CH India business delivered total turnover of around INR 42 billion in the year ended March 2018, primarily through its Horlicks and Boost brands.The merger of GSK CH India with HUL will be on a basis of an exchange ratio of 4.39 HUL shares for each GSK CH India Share, implying a total equity value of INR 317 bln for 100% of GSK CH India. Hindustan Unilever Limited ("HUE'), through a Scheme of Amalgamation by way of Merger by Absorption Under Sections 230 to 232 of the Companies Act, 2013 between Hindustan Unilever Limited, Glaxosmithkline Consumer Healthcare Limited …

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2020The Indian Express [P] Ltd. All Rights ReservedHUL completes merger with GSK Consumer Healthcare buys Horlicks brand for Rs 3045 crore Yet to pay tax for FY 2019-20? - Explore our latest news and stories covering innovation, our people, sustainability, marketing and more…We are widely recognised as a preferred employer, both by graduates and experienced professionals – find out why.Our dedicated section for investors. We will increase penetration with special focus on rural markets and emerging channels and expand our offerings to the fast-growing premium segment. The merger of GlaxoSmithKline Consumer Healthcare Limited with HUL has been on the basis of an exchange ratio of 4.39 HUL shares for each GlaxoSmithKline Consumer Healthcare Limited share. The merger of GSK CH with HUL has been on the basis of an exchange ratio of 4.39 HUL shares for each GlaxoSmithKline Consumer Healthcare share.

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