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Unilever (ULVR.L) has emerged as the leading bidder in a tight contest for GlaxoSmithKline’s (GSK.L) 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 giant Nestle (NESN.S), 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 Nestle if it could not agree terms with Unilever.

The Financial Times reported on Tuesday that Unilever and GSK, which owns 72.5 percent of Indian business GlaxoSmithKline Consumer Healthcare (GLSM.NS), were in exclusive talks, citing people familiar with the sales process.

Read More – www.bbc.co.uk

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