Nov 27 (Reuters) - GlaxoSmithKline Plc is in exclusive talks to sell its Indian Horlicks nutrition business to Unilever Plc, putting an end to an auction that is expected to fetch more than $4 billion, Financial Times reported on Tuesday.
GlaxoSmithKline beat a rival bid from Swiss rival Nestle which was also bidding for the unit and looking to expand its portfolio in the powdered hot beverages category, the report on.ft.com/2FNlf6j added.
In September, sources had told Reuters that Nestle, Unilever and Coca-Cola were among bidders for GSK’s Indian Horlicks nutrition business and that Nestle was particularly well-suited to buy the business.
GSK and Unilever did not immediately respond to a request seeking comment outside regular business hours. (Reporting by Mekhla Raina in Bengaluru Editing by Phil Berlowitz)