InvestorQ : Is it true that Glaxo is planning to sell out of its stake in Hindustan Unilever?
Neelam Naik made post

Is it true that Glaxo is planning to sell out of its stake in Hindustan Unilever?

Answer
image
Priyanka N answered.
2 years ago
Follow

GlaxoSmithKline Plc plans to sell its $3.7 billion stake in Unilever’s listed India unit. However, it is not clear whether the sale will be a block sale or sold in phases. Glaxo currently holds 5.7% in Hindustan Unilever as consideration for the sale of the Glaxo Consumer business to Unilever worldwide. The deal is expected to happen in the coming week. Glaxo received the stake worth $3.7 billion this week, as part of the payment for the sale of a portfolio of assets. No final decision has been taken on the timing of the proposed trades and Glaxo is expected to take a final view on the sale based on market conditions and the advice of the investment bankers.

8 Views