GlaxoSmithKline To Sell 5.69% Stake In Hindustan Unilever

British multinational pharmaceutical company GlaxoSmithKline Plc will be selling 5.69 percent stake in Hindustan Unilever (HUL) via block deals at a price band of Rs 1,850-1,950 per share. The company said on Wednesday that this deal will be valued around $3.2-3.4 billion.

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Morgan Stanley, HSBC and JPMorgan will be the advisors to the deal.

The price band of the deal is at a discount of 3-8 percent to the closing price of HUL of Rs 2,010.2 per share on Wednesday.

HUL's deal to buy GSK's Horlicks nutrition business for $3.8 billion for a consideration in cash and shares of HUL was completed in April 2020.