Hindustan Unilever completes the GlaxoSmithKline merger
Consumer goods maker Hindustan Unilever Ltd (HUL) has stated that it has completed the merger of GlaxoSmithKline Consumer Healthcare (GSKCH India).
HUL has received all the regulatory approvals along with the National Company Law Tribunal for the merger. The company is confident that the merger will further help Hindustan Unilever strengthen its presence across sectors in the country.
The merger will see over 3,500 team members from GSKCH join HUL.
"This is one of the largest deals in the FMCG sector in recent times and will lead to significant value creation for all stakeholders. This will enable HUL to utilise cash on its balance sheet and create value for shareholders. In addition, it will enable HUL to drive better salience in a local context," HUL said in a statement.
Commenting on the merger, HUL managing director Sanjiv Mehta said: “The merger gives us a unique opportunity to live our purpose and serve India where nutrition-related challenges form the largest causes of disease. I am delighted to welcome over 3,500 – strong nutrition team to the HUL family. Both organizations have common values coming from a lineage of respected parent companies and a shared heritage of building iconic trusted brands.”
HUL has a strong presence in the country’s beauty and personal care segment with brands like Dove, Sunsilk, and many others.
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