GSK in exclusive discussions with Unilever about Indian Horlicks unit: FT

(Reuters) - GlaxoSmithKline Plc is in exclusive talks to sell its Indian Horlicks nutrition business to Unilever Plc , putting an end to an auction that is expected to fetch more than $4 billion, Financial Times reported on Tuesday.

Reuters November 28, 2018 07:05:42 IST
GSK in exclusive discussions with Unilever about Indian Horlicks unit: FT

GSK in exclusive discussions with Unilever about Indian Horlicks unit FT

(Reuters) - GlaxoSmithKline Plc is in exclusive talks to sell its Indian Horlicks nutrition business to Unilever Plc , putting an end to an auction that is expected to fetch more than $4 billion, Financial Times reported on Tuesday.

GlaxoSmithKline beat a rival bid from Swiss rival Nestle which was also bidding for the unit and looking to expand its portfolio in the powdered hot beverages category, the report added.

In September, sources had told Reuters that Nestle, Unilever and Coca-Cola were among bidders for GSK's Indian Horlicks nutrition business and that Nestle was particularly well-suited to buy the business.

GSK and Unilever did not immediately respond to a request seeking comment outside regular business hours.

(Reporting by Mekhla Raina in Bengaluru; Editing by Phil Berlowitz)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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