The pharma giant acquired the stake in December 2018 as part of a transaction with Unilever
() announced it is to sell its 5.7% stake in Hindustan Unilever Limited (HUL) for 254.8bn rupees, corresponding to US$3.35bn.
The pharma giant acquired this holding in December 2018, when it sold its Indian Horlicks nutrition business to fellow FTSE 100 firm ().
The deal involved payment in cash and shares in Unilever’s Indian subsidiary, HUL.
The transaction between GSK and Unilever, initially agreed for £3.1bn, was completed last month at £3.4bn as HUL’s share price has been rising.
Shares in GSK were flat at 1,702p on Thursday in early trades.