Unilever wants to buy GlaxoSmithKline’s Indian Consumer Healthcare business.
Unilver will spend £3.1 billion ($3.9 billion) to merge its Indian unit, called Hindustan Unilever (HUL), with GSK Consumer Healthcare India. GSK accounts for more than 60% of India's health drinks market, according to consulting firm RedSeer. GSK owns India’s top nutritional malted drink brands, namely Horlicks and Boost. If the merger gets finalized, Unilever will be able to own these brands and more. Unilever also plans to acquire GSK's business in India's neighboring country Bangladesh as well as nutrition brand rights for "certain other territories" at a price of £566 million ($723 million).
The deal is awaiting approvals from the shareholders of Hindustan Unilever and GSK India, as well as from Indian regulators. It is expected to close by the end of 2019.