GlaxoSmithKline Plc is preparing to start a sale of its $3.7 billion stake in Unilever’s listed India unit, according to people familiar with the matter.
Glaxo plans to offload part or all of its 5.7% holding in Hindustan Unilever Ltd. through a series of block trades, which could start as soon as the next few days, according to the people.
The company is in discussions with advisers on when to launch the transactions, the people said, asking not to be identified because the information is private.
The drugmaker received the stake, valued at $3.7 billion as of Wednesday, as part of the payment for the sale of a portfolio of assets that was completed this month.