Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
»
1-min read

Coca-Cola in Race to Acquire Horlicks From GlaxoSmithKline at $3.9 Billion

Quoting sources, UK-based Sunday Telegraph has said the value of the transaction could be around three billion british pounds (USD 3.9 billion).

PTI

Updated:September 10, 2018, 8:14 PM IST
facebookTwitterskypewhatsapp
Coca-Cola in Race to Acquire Horlicks From GlaxoSmithKline at $3.9 Billion
Representative Image (Reuters)
Loading...

New Delhi: US-based Coca-Cola Co, is in the race to acquire malt-based health drink Horlicks from GlaxoSmithKline (GSK), which has put the popular brand in India on sale, according to media reports.

Quoting sources, UK-based Sunday Telegraph has said the value of the transaction could be around three billion british pounds (USD 3.9 billion).

The company "is mulling a three billion british pounds (USD 3.9 billion) swoop for Horlicks after GlaxoSmithKline (GSK) hoisted a 'for sale' sign above the 145-year-old brand," the report said.

It further said that besides Coca-Cola, several global FMCG makers as Nestle, Kraft Heinz are in the race to acquire Horlicks from GSK.

"As a matter of policy we do not comment on any speculative news. At this point in time there is nothing to report on the said matter," CocaCola said in an e-mail statement.

The Atlanta-based cola major had acquired the Costa Coffee chain from UK-based leisure group Whitbread in a USD 5 billion deal recently.

If the deal happens, then this would be second major acquisition by Coca-Cola in the Indian market, when it had re-enterd into the Indian market after buying then popular brands such as Thums Up, Limca and Gold Spot.

Horlicks in India is largely sold through GlaxoSmithKline Healthcare, in which GSK owns 72.5 per cent stake.

GSK has put Horlick on the blocks after it had decided to buy 36.5 per cent stake in the consumer healthcare business of Novartis for 9.2 billion british pounds.

The company is considering to sell Horlicks and other nutrition brands to fund the acquisition.

| Edited by: Sanchari Chatterjee
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Indiabulls Hsg 624.95 2.48
Yes Bank 108.60 -0.64
Tata Steel 488.60 3.45
Reliance 1,295.90 1.16
HDFC Bank 2,435.05 0.74
Company Price Change %Gain
Indiabulls Hsg 631.10 3.51
Yes Bank 108.55 -0.69
Dewan Housing 65.40 0.54
Gulf Oil Lubric 896.85 -0.34
Tata Steel 488.50 3.33
Top Gainers
Company Price Change %Gain
Tata Steel 488.60 3.45
Indiabulls Hsg 624.70 2.44
Hindalco 194.30 2.29
Zee Entertain 346.80 2.20
Kotak Mahindra 1,490.90 1.99
Company Price Change %Gain
Tata Steel 488.50 3.33
Kotak Mahindra 1,490.30 1.89
Power Grid Corp 201.00 1.67
HDFC 2,183.65 1.36
Maruti Suzuki 6,525.00 1.37
Top Losers
Company Price Change %Gain
IOC 157.25 -0.25
Yes Bank 108.70 -0.55
UPL 991.00 -0.87
Wipro 295.95 -0.69
Coal India 258.40 -0.75
Company Price Change %Gain
Yes Bank 108.60 -0.64
Coal India 258.35 -0.77
Hero Motocorp 2,646.80 -0.78
Sun Pharma 376.80 -0.42
HCL Tech 1,083.20 -0.41

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results