Unilever announces completion of Horlicks acquisition from GSK

Unilever announced that Hindustan Unilever Limited (HUL), India’s largest fast-moving consumer goods company and Unilever’s listed subsidiary in India, has successfully completed the merger of GlaxoSmithKline Consumer Healthcare Limited (GSKCH) with HUL.

Unilever logo on the entrance of deodorant factory in Jiutepec Mexico

HUL announced the merger of GlaxoSmithKline Consumer Healthcare Ltd with HUL on 3rd December 2018, in line with the company’s strategy to evolve the Foods and Refreshment portfolio into higher growth segments, subject to obtaining necessary approvals. All approvals have now been secured. As previously indicated, following completion of the transaction, Unilever's holding in HUL will be diluted from 67.2% to 61.9%.

Unilever has also completed the related acquisition of Horlicks brands rights and other Consumer Healthcare nutrition assets from GSK in other predominantly Asian markets. Bangladesh closing is expected to follow later this quarter, subject to local procedures.

Safe Harbour

Where relevant, these actions are subject to the appropriate consultations and approvals.

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Unilever's global brands not meeting consumer preferences; Unilever's ability to innovate and remain competitive; Unilever's investment choices in its portfolio management; inability to find sustainable solutions to support long-term growth; the effect of climate change on Unilever's business; customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain; the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure; successful execution of acquisitions, divestitures and business transformation projects; economic and political risks and natural disasters; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters.

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Source of information

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