Glaxo sells સ્તા 3.35 billion holdings in Hindustan Unilever

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(Commercial Representative) Mumbai, Ta. 07 May 2020, Thursday

The giant GlaxoSmithKline, which has a 7.5 per cent stake in global giant Unilever's Indian venture FMCG giant Hindustan Unilever Ltd, has sold the holdings for 4.5 billion. Amidst the deal, shares of Hindustan Unilever opened at Rs 171 against the previous close of Rs 2,005.5 and fell to Rs 1,905.50, falling by Rs 15.5 to Rs 19.50.

GlaxoSmithKline has said it has sold 12.5 crore shares of Hindustan Unilever at an average price of Rs 1,905 per share. Competent investors were earlier told that shares of Hindustan Unilever would be sold at Rs 150 to Rs 150 per share. With this, the deal is worth 4.5 billion. With the previous Daiichi Sankyo, Sun Pharmaceuticals held the record in India for holding holdings in April 2016 for 2.16 billion.

Tencent's shares were traded in Hong Kong in March 2015 for સ 4.5 billion by the world's largest blockchain deal Nespers.

So far in 2020, equity capital market deals in India have stood at 3 billion, up from ૫૨ 4.5 billion in the same period last year. Statistics show that this rate has slowed down since 2014. According to GlaxoSmithKline's first-quarter report, the company gained 2.4 per cent holding in Hindustan Unilever and કરોડ 200 million in cash on completion of the Horlicks deal on April 1. Earlier this year, GlaxoSmithKline separated its core prescription drugs and vaccine business by developing a two-year program to divide its business into two units.

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