Hindustan Unilever (HUL) announced that it has successfully completed the merger of GlaxoSmithKline Consumer Healthcare (GSKCH) with the company. The merger was announced on 03 December 2018. The merger is on the basis of an exchange ratio of 4.39 HUL shares for each GSKCH share. Following the issue of new HUL shares, Unilever's holding in HUL will be diluted from 67.2% to 61.9%.
Further, the Board of Hindustan Unilever has on 01 April 2020 approved the acquisition of Horlicks Brand for India from GlaxoSmithKline for a consideration of Euro 375.6 million (Rs 3045 crore), exercising an option available in the original agreement made between Unilever and GSK. The other brands which are under the ownership of GSKCH like Boost, Maltova and Viva come to HUL's brand portfolio by virtue of merger.