ShutterstockGlaxoSmithKline Plc (GSK) on Thursday offloaded its 5.7 per cent stake in Hindustan Unilever Ltd (HUL) for around Rs 25,480 crore. The GSK share sale marks the largest secondary trade on the Indian bourses. Following the transaction, GSK will no longer hold any HUL shares, it added. GSK received the stake after last year’s merger of GSK Consumer Healthcare with HUL in a swap ratio of 4.39 HUL shares for every GSK stock. As part of the transaction, GSK received a 5.7 per cent stake in the Indian unit.

Source: The Telegraph May 08, 2020 01:07 UTC