Hindustan Unilever and GSKCH merger to be declared on 1st April, 2020

Mar 16, 2020

 

Hindustan Unilever’s merger with GlaxoSmithKline Consumer Healthcare (GSKCH) will be declared in April and will be effective from then on. Hindustan Unilever Ltd (HUL) and GSKCH have received approval from the Mumbai and Chandigarh bench of the National Company Law Tribunal, respectively for the merger.

On December 3, 2018, Anglo-Dutch FMCG giant Unilever announced the acquisition of health food portfolio, including popular brands Horlicks and Boost, from GSKCH India and over 20 other markets for 3.1 billion pounds (about Rs 27,750 crore).

Under the deal, Unilever’s Indian arm, HUL is acquiring GSKCH India via an all-equity merger, valuing the total business of the latter at Rs 31,700 crore. GSKCH India is the market leader in the health food drinks (HFD) category, with popular brands such as Horlicks and Boost. HUL stock settled at Rs 2033.20, down 1.27 per cent from its previous close, on the BSE.