Nestlé or Unilever expected to acquire Indian Horlicks
Either the Swiss food and drink firm, Nestlé, or the British-Dutch consumer goods company, Unilever, are expected to acquire Indian Horlicks.
The GlaxoSmithKline Plc brand is anticipated to generate $4bn from the asset auction, Reuters revealed.
GSK, which is in exclusive talks with Unilever to boost its position in India according to the Financial Times, owns a 72.5% stake in the firm.
According to the Times of India, if Nestlé wins the auction it will not merge Horlicks and other GSK brands with its local unit in the country, Nestlé India Ltd.
A GSK India spokesperson revealed on 28 November that the firm is currently conducting a strategic review covering its nutritional units across the nation.
The strategic review is anticipated to be competed by the end of the year.
Coca-Cola has also expressed interest in acquiring the brand under its expansion plans targeting emerging markets.
The company was revealed to be joining the final auction round in September, but Coca Cola’s interest cooled down.
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