GSK sells its entire 5.7% holding in HUL for over Rs 25,000 crore
- Glaxo-SmithKline (GSK) sold its entire 5.7 per cent stake in Hindustan Unilever (HUL) for more than Rs 25,000 crore.
- GSK will no longer hold any HUL shares.
- GSK wanted to focus on its pharma R&D pipeline including its bets on experimental cancer treatments.
- More than 133 million shares of HUL were sold through multiple large transactions.
- The shares were sold in the range of Rs 1,900-Rs 1,950.
- Société Générale bought 12.9 million shares for Rs 2,450 crore at Rs 1,902 apiece.
BACKGROUND
- In 2018, GlaxoSmithKline made an exit from Horlicks and other consumer healthcare nutrition brands to Unilever. Subsequently, HUL acquired Horlicks brand, Boost, Maltova and Viva.
- GSK Consumer Healthcare Limited-“GSK India” merged with with Hindustan Unilever Limited (“HUL”).
ABOUT GSK
- British multinationalpharmaceutical company
- HQ-London
- CEO– Emma Walmsley
- Chairperson- Jonathan Symonds
ABOUT HUL
- Indian subsidiary of Unilever.
- HQ-Mumbai, Maharashtra
- CEO– Sanjiv Mehta
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