GlaxoSmithKline plc has today announced the divestment of Horlicks and other consumer healthcare nutrition brands to Unilever plc..It has also announced the merger of GSK Consumer Healthcare Limited (GSK India) with Hindustan Unilever Limited (HUL) for a total consideration valued at approximately £3.1 billion.AZB & Partners acted for GSK with a team led by Senior Partner Vinati Kastia along with Senior Associate Ankit Tandon..Ajay Bahl, Co-Founding and Managing Partner and Ravi Prakash, Senior Partner advised on Tax aspects..From AZB Mumbai, Alka Nalavadi, Senior Partner and Rinki Ganguly, Partner also advised on some aspects..Slaughter and May is the international counsel for GSK and the team included Partners Christian Boney, David Johnson and Simon Nicholls..Cyril Amarchand Mangaldas advised HUL and the team was led by Managing Partner Cyril Shroff and Partners Nivedita Rao and Ramgovind Kurupath..Partner Ranjan Negi advised on IP issues, Partner Bharat Bhudolia advised on Competition Law and Daksha Baxi advised on tax aspect..Baker McKenzie acted as international counsel for HUL and the team was led by London Partner David Scott..The proposed transaction involves the merger of GSK India with HUL, following which GSK will own approximately 5.7% of HUL..The merger values GSK India at INR317 billion in total, or INR7,540 per share, a 15.4% premium to the un-disturbed share price of INR6,531 as at close of business on 26 March 2018, according to GSK press release.
GlaxoSmithKline plc has today announced the divestment of Horlicks and other consumer healthcare nutrition brands to Unilever plc..It has also announced the merger of GSK Consumer Healthcare Limited (GSK India) with Hindustan Unilever Limited (HUL) for a total consideration valued at approximately £3.1 billion.AZB & Partners acted for GSK with a team led by Senior Partner Vinati Kastia along with Senior Associate Ankit Tandon..Ajay Bahl, Co-Founding and Managing Partner and Ravi Prakash, Senior Partner advised on Tax aspects..From AZB Mumbai, Alka Nalavadi, Senior Partner and Rinki Ganguly, Partner also advised on some aspects..Slaughter and May is the international counsel for GSK and the team included Partners Christian Boney, David Johnson and Simon Nicholls..Cyril Amarchand Mangaldas advised HUL and the team was led by Managing Partner Cyril Shroff and Partners Nivedita Rao and Ramgovind Kurupath..Partner Ranjan Negi advised on IP issues, Partner Bharat Bhudolia advised on Competition Law and Daksha Baxi advised on tax aspect..Baker McKenzie acted as international counsel for HUL and the team was led by London Partner David Scott..The proposed transaction involves the merger of GSK India with HUL, following which GSK will own approximately 5.7% of HUL..The merger values GSK India at INR317 billion in total, or INR7,540 per share, a 15.4% premium to the un-disturbed share price of INR6,531 as at close of business on 26 March 2018, according to GSK press release.
