BRIEF—GSK completes sale of nutrition brands for £3.4 billion

GlaxoSmithKline has completed divestment of its Horlicks and other Consumer Healthcare nutrition products in India to Unilever, raising about £3.4 billion ($4.2 billion).

Announced in 2018, at the same time GSK revealed plans to sell its 82% stake in GlaxoSmithKline Bangladesh and other related brand rights, for around £566 million.

Completing the restructuring is the merger of the firm’s GSK India consumer healthcare business with Hindustan Unilever, with GSK’s 5.7% stake in the resulting business slated to be sold off gradually.