Unilever in pole position to swallow GSK’s Indian Horlicks business
The acquisition will bolster Unilever's position in a key market
Hong Kong/Zurich — Unilever has emerged as the leading bidder in a tight contest for GlaxoSmithKline’s Indian Horlicks nutrition business, three people familiar with the situation told Reuters on Wednesday. If it is able to clinch the deal, Unilever will trump fellow European consumer firm Nestlé, the other main contender to buy Horlicks and other GSK consumer healthcare assets in India. One source said Unilever had been given “preferential treatment” to complete the deal but did not have exclusivity in negotiations, so it was possible GSK might re-open talks with Nestlé if it could not agree terms with Unilever. The Financial Times reported on Tuesday that Unilever and GSK, which owns 72.5% of Indian business GlaxoSmithKline Consumer Healthcare, were in exclusive talks, citing people familiar with the sales process. The acquisition would strengthen Unilever’s position in India, an emerging market whose growing population and rising wealth make it attractive in the long term for com...
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