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Unilever to swallow GSK's Indian Horlicks business

Monday, December 3, 2018, 8:30 PM

Unilever (ULVR.L) is to buy GlaxoSmithKline's (GSK.L) Horlicks nutrition business for $3.8 billion, boosting the Anglo-Dutch group's position in India by adding the popular malted drink. The deal, announced on Monday, increases the consumer goods giant's reach in one of the world's fastest-growing economies and marks a notable addition to the portfolio by outgoing Chief Executive Paul Polman, who steps down in January.

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