Unilever: buys GSK's health food drinks in Asia

(CercleFinance.com) - Consumer goods giant Unilever has agreed to buy GlaxoSmithKline's health food drinks portfolio in India, Bangladesh and 20 other Asian markets, for 3.
3 billion euros.

The deals includes an all-equity Merger of Hindustan Unilever with publicly-listed GSK CH India, as well as the acquisition of 82% of GSK Bangladesh, and the acquisition of certain other commercial operations and assets outside India, Unilever said.

It includes nutritional drinks, such as Horlicks and Boost, it added.

The Anglo-Dutch giant said the move is part of its strategy to increase its presence in health-food categories in high-growth emerging markets.

The transaction is expected to be completed in the next 12 months.

Unilever also said that it has now completed its share buyback program, with the second tranche of the program to buy 3 billion euros worth of shares now being officially over.

Between 20 July and 30 November, 30.6 million shares of Unilever N.V. shares and 31.5 million shares of Unilever PLC shares were purchased, it said.

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