NEW DELHI: India’s largest packaged consumer goods company Hindustan Unilever Ltd (HUL) on Wednesday said it has completed its merger with GlaxoSmithKline Consumer Healthcare Ltd (GSKCH), over a year after the announcement of the mega-deal.
The board of HUL also approved the acquisition of the Horlicks brand for India from GSK for ₹3,045 crore as part of an option available in the original agreement made between HUL and GSK.
In a statement to the stock exchange on Wednesday, HUL said assets and liabilities of GSKCH will become part of HUL effective 1 April 01, after seeking necessary regulatory approvals, “In accordance with the terms of the scheme approved by the Mumbai NCLT (National Company Law Tribunal) and the Chandigarh NCLT, the