DHAKA, Dec. 4 (Xinhua) -- After the closure of GlaxoSmithKline's (GSK) drug manufacturing operations in Bangladesh, GSK Bangladesh Ltd announced Tuesday to sell its 82 percent stake in Bangladesh to another multinational company Unilever.
The British pharmaceutical company has also announced the divestment of Horlicks and other consumer healthcare nutrition brands to Unilever, an Anglo-Dutch transnational consumer goods company, and the merger of GSK Consumer Healthcare Limited (GSK India) with Hindustan Unilever Limited (HUL) for a total consideration valued at approximately 3.1 billion pounds.
Following the merger, according to the statement, GSK will own approximately 5.7 percent of HUL, a public company in India where Horlicks and other nutrition products are sold by GSK India in which GSK holds a 72.5 percent stake.
In Bangladesh, however, the remaining stakes of GSK Bangladesh, which is listed on Dhaka Stock Exchange, are held by institutes, foreigners and local individuals.
