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$3.8bn blockbuster deal: CAM, AZB help HUL buy GSK India’s Horlicks biz

“FMCG major Hindustan Unilever Limited (HUL) on Monday said it will buy GlaxoSmithKline’s Indian Horlicks nutrition business for around $3.8 billion, boosting the consumer goods group’s position in a key emerging market,” reported Firstpost today. The deal covers GlaxoSmithKline Consumer Healthcare, which includes the Horlicks brand and businesses in India, Bangladesh and 20 other markets, mostly in Asia.

Cyril Amarchand Mangaldas managing partner Cyril Shroff and partners Nivedita Rao and Ramgovind Kurupath acted for Hindustan Unilever, alongside partner Ranjan Negi for IP issues, partner Bharat Bhudolia for competition law and partner Daksha Baxi on tax aspects.

AZB & Partners Delhi partner Vinati Kastia, assisted by managing partner Ajay Bahl and partner Ravi Prakash on tax aspects, acted for GlaxoSmithKline. Also advising was partner Daksh Trivedi and counsel Bharat Apte, and lawyers Ankit Tandon, Ayush Tandon, Aman Jain.

Baker & McKenzie acted for Hindustan Unilever on international aspects of the deal.

Slaughter and May acted for GlaxoSmithKline on UK advice.

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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