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GSK selling stake in Hindustan Unilever
May 07, 2020
GlaxoSmithKline is selling $3.45 billion worth of shares in Hindustan Unilever at the open marketplace, in keeping with a deal marketing term sheet seen by Reuters, cashing in late from the sale of the Horlicks brand.
The 5.7% stake in Hindustan Unilever that is now in the marketplace turned into every day by means of GSK as payment for the sale of the malted drink brand and various Nutrition brands to Hindustan Unilever.
The cash injection will assist GSK in its goal of strengthening its drug development pipeline, having made steeply-priced bets on experimental most cancers remedies and future cell and gene therapies during gradual sales increase.
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