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.
The warning identified vulnerable areas including Vanuatu's Anatom Island, Esperitu Santo; New Caledonia's Noumea and Fiji's Suva. New Caledonia, a collection of islands in the South Pacific, has been owned by the French since 1853.
"The negotiations with China have already started", Trump said in a series of tweets on trade talks between the two countries. He noted that the talks would be finalized within 90 days after his meeting with President Xi Jinping at the G20 forum.
Secretary of State Mike Pompeo also said that his country is suspending its obligations under the agreement. However, Nato allies would have to agree unanimously to have any new missile deployed in Europe.
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.
Paul was not allowed in the Tuesday briefing, which was limited to relevant committee chairmen and select other participants. Haspel left the briefing and did not respond to CNN's questions about whether the briefing would satisfy senators' concerns.
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.
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.
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.
Sonali Bendre back to India
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.
We have photos of Priyanka Chopra's wedding gown and WOW
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 .
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.
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.