GSK is looking to sell 72.5 percent stake in its Indian subsidiary
GlaxoSmithKline (GSK) has shortlisted Nestle, Unilever and Coca-Cola for the second round of bidding for its Indian nutrition business - GSK Consumer Healthcare, according to a report by The Economic Times. GSK is looking to sell 72.5 percent stake in its Indian subsidiary.
The auction process had witnessed global companies including Danone, PepsiCo, General Mills, Reckitt Benckiser and Kellogg’s compete alongside Indian companies such as ITC and private equity funds such as KKR to purchase the GSK's consumer portfolio, which includes nutrition drinks like Horlicks.
Moneycontrol could not independently verify the report.
Reports suggest that some bidders have opted out of the race while others did not make the cut for the second round of bidding. It remains unclear how many bidders are still in the race.
Besides Horlicks, the market is dominated by Cadbury’s Bournvita, Kraft Heinz India’s Complan and Nestle’s Boost. Kraft Heinz India is also selling its nutritional drink brand Complan, talcum powder Nycil, Sampriti Ghee and energy drink powder Glucon D.Meanwhile, Coca-Cola has also moved into the final stages of negotiation with Kraft Heinz India to acquire its brands including Complan and Glucon D.