The company has received 99.99 per cent votes in favour of the scheme of amalgamation among the company and Hindustan Unilever Ltd (HUL) in the National Company Law Tribunal-convened meeting of the equity shareholders on June 1, 2019. Following the issue of new HUL shares, Unilever‘s holding in HUL will be diluted from 67.2% to 61.9%. FMCG major Hindustan Unilever on Wednesday announced completion of GlaxoSmithKline Consumer Healthcare Ltd's merger (GSKCH) with itself.The company has received all the necessary regulator approvals along with the National Company Law Tribunal for the merger of GSKCH into the company, HUL said in a statement.In addition, the board of HUL also approved acquisition of popular health drink brand Horlicks from GSK for a consideration of Euro 375.6 million (Rs 3,045 crore), exercising the option available in the original agreement between its parent firm Unilever and GSK. HUL will donate Rs 10 crore to upgrade the health care facilities in testing centres and hospitals. The merger of GlaxoSmithKline Consumer Healthcare Limited with HUL has been on the basis of an exchange ratio of 4.39 HUL shares for each GlaxoSmithKline Consumer Healthcare Limited share. "The proposed resolution …

Hindustan Unilever has announced that it has completed the merger of GlaxoSmithKline Consumer Healthcare. The merger has been on the basis of an exchange ratio of 4.39 HUL shares for each GlaxoSmithKline Consumer Healthcare share. "This is one of the largest deals in the FMCG sector in recent times and will lead to significant value creation for all stakeholders," HUL said.The deal would unlock opportunity for HUL in Health Food Drinks (HFD) market as GSKCH was the market leader in the segment, with brands as Horlicks and Boost in its portfolio. Oct 08 - 10 Oct 2020 The record date for issuance of shares of HUL to GSK Consumer shareholders is April 17, 2020. "This partnership, with world class brands from GSK like Eno, Crocin, Sensodyne etc and HUL's distribution strength can unlock value for GSK and build further Hindustan Unilever's go-to-market capabilities," it added.On December 3, 2018, Anglo-Dutch FMCG giant Unilever announced the acquisition of health food portfolio, including popular brands Horlicks and Boost, from GSKCH India and over 20 other markets for 3.1 billion pounds (about Rs 27,750 crore).According to the deal, Unilever's Indian arm HUL acquired GSKCH India via an all-equity merger, valuing the total business of the latter at Rs 31,700 crore. The HUL-GSK merger deal will lead to dilution of Unilever Plc’s holding in Hindustan Unilever from 67.2% to 61.9%. The merger values GSK Consumer Healthcare at nearly Rs 32,000 crore and its shareholders will get 4.39 shares of HUL for each of their share. Following the issue of new HUL shares, Unilever‘s holding in HUL will be diluted from 67.2% to 61.9%. GSK Consumers Healthcare Ltd said Sunday that its shareholders approved its proposed merger with FMCG major HUL. The approvals have now been secured. "This will enable HUL to utilise cash on its balance sheet and create value for shareholders. This merger was first announced on 3 December 2018 and was subject to obtaining approvals. "Both organizations have common values coming from a lineage of respected parent companies and a shared heritage of building iconic trusted brands," HUL CMD Sanjiv Mehta said.Horlicks has a volume share of close to 50 per cent in the HFD market.

The merger of GSK CH India with HUL will be on a basis of an exchange ratio of 4.39 HUL shares for each GSK CH India Share, implying a total equity value of INR 317 bln for 100% of GSK CH India. The merger gives us a unique opportunity to live our purpose and serve India where Nutrition related challenges form the largest causes of disease – Malnutrition and Micronutrient deficiency - and aligns well with the Government's ambitious Swasth Bharat and Poshan Abhiyan programs. Reproduction of news articles, photos, videos or any other content in whole or in part in any form Pragati Maidan, New Delhi


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