December 3, 2018 / 9:52 AM / 2 months ago

BUZZ-India's GlaxoSmithKline Consumer Healthcare, HUL climb on Horlicks deal

** India’s GlaxoSmithKline Consumer Healthcare Ltd climbs 6.1 pct to its highest since Sept. 21, while Hindustan Unilever Ltd rises 4.8 pct to record high

** Unilever will buy GlaxoSmithKline’s Indian Horlicks nutrition business for around $3.8 bln

** Under deal, GlaxoSmithKline will sell its 72.5 pct stake in GlaxoSmithKline Consumer Healthcare

** Unilever said the consideration would be paid in cash and shares in its Indian unit Hindustan Unilever Limited (HUL)

** HUL shares mark sharpest intraday pct gain since May 10, 2017, and are among top pct gainers on NSE index

** Post deal, GSK to own about 5.7 percent of HUL, which the British drugmaker intends to sell down in tranches

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