Mehta further said that this merger would create remarkable shareholder value through both cost synergies and revenue growth.
"The acquisition is transformative for our foods and refreshment business allowing us to enter the health foods drinks category, further strengthening our position in health and wellness".
Following the closure of the deal, GSK will own approximately 5.7 per cent of HUL, which the British drug maker intends to sell down in tranches.
In India, Horlicks and other nutrition products are sold by GSK India, a public company listed on the National Stock Exchange and Bombay Stock Exchange in which GSK holds a 72.5% stake. The transaction covers GSK's health food and drinks portfolio in India, Bangladesh and 20 other predominantly Asian markets.
"The turnover of our F&R business will now exceed Rs 10,000 crore and we will become one of the largest F&R businesses in the country", said Hindustan Unilever chairman and CEO Sanjiv Mehta. Its product portfolio, with a long history in India, is supported by strong nutritional claims.
The average growth rate has been double digit over the last decade.
Unilever said the 3.3 billion euros ($3.75 billion) it was paying would be paid in cash and shares in its subsidiary in India, Hindustan Unilever Limited (HUL). The merger values GSK Consumer Healthcare India at ₹31,700 crore, or ₹7,540 per share. This will come about from a combination of supply chain efficiencies, operational improvements, go-to-market and distribution network optimization and streamlining of overlapping infrastructure. Following the issue of new HUL shares, Unilever's shareholding in the merged entity will come down to 61.9 per cent against 67.2 per cent prior to the merger. The brand accounted for 45% of India's health drink market in 2017, according to consulting firm RedSeer. The transaction is expected to be completed in one year, subject to shareholder and regulatory approvals. The scale of Unilever's India business-which is also its fastest growing-appears to have dimmed the chances of other suitors in the fray.
Its current crew - Sergey Prokopyev, Serena Auñón-Chancellor, and Commander Alexander Gerst - will return to Earth on December 20. She offered Saint-Jacques a "Bravo, bravo, bravo" and told the space station crew they were an inspiration for humanity.
With support from her family and friends, Sonali has always remained positive in her outlook as she battles the serious ailment. Bollywood actress Sonali Bendre who was fighting with cancer has now returned back to Mumbai after five months of treatment.
Browner had a previous relationship with the victim and had been arrested for domestic violence against her earlier this year. Alongside Darrelle Revis, Browner helped New England defeat his old team in Super Bowl XLIX.
A crowd angered over what they believed was the slaughter of the cow threw stones and torched vehicles outside a police station. The inspector, who has a wife and two sons living in Noida near Delhi, was declared dead when he was brought to the hospital.
Ralph Lauren , who designed custom-made outfits for the wedding, took to Twitter to congratulate the bride and groom. The event was underway at the glitzy Umaid Bhawan Palace in Jodhpur , in the Rajasthan state of northwestern India .
With that being said, the Toronto Maple Leafs have left themselves the flexibility to keep Nylander if he plays very well. Nylander agreed to terms on a six-year contract with Toronto on Saturday minutes before the 5 p.m.
Again, this is a move in the right direction but the road to a lasting deal will be littered with potholes and could break down. This suggests that both countries have a lot to lose if the trade deal isn't finalised within the newly set 90-day time limit.
It doesn't appear Kaepernick will get the same chance Sanchez did Monday - to play for the first time since the 2016 season. Redskins offensive coordinator Matt Cavanaugh was the Jets' quarterbacks coach for Sanchez. "It's very hard .
Singapore passport second in new ranking, behind UAE
A UAE passport holder can also obtain visas from 54 countries upon arrival, said the Passport Index in its December 2018 report. Denmark, Sweden, Finland, Luxembourg, France, Italy, Netherlands, Spain, Norway and South Korea made it into bronze position.
Qualcomm Snapdragon 855 Official! | Best Features
For the first time ever in a Qualcomm chip, an NPU dedicated to machine learning tasks and related to AI will be present. It'll take seconds to download a full TV season , and doctors will be able to perform remote surgeries in real time.
Urban Meyer to retire as Ohio State’s head coach
He lost star defensive end Nick Bosa to an early season-ending injury, and the Buckeyes' defense never fully recovered. Meyer insisted he was going to coach beyond 2018 but more recently he had been noncommittal on his coaching future.
Special counsel notes Flynn's cooperation
It is unusual for a USA president or any senior government official to comment on court proceedings. So, to recap: In Trump's opinion Stone has "guts" because he'll never testify against Trump.
Trump and Xi agreement buys time in trade war
Fentanyl is a synthetic opioid primarily produced in China that has caused thousands of deaths in North America in recent years. The Buenos Aires deal shows that both sides are aware that the tariffs could damage the global economy, it said.