In addition, the Board of Directors of HUL today approved HUL acquiring the Horlicks Brand for India from GSK for a consideration of Euro 375.6 mln (INR 3045 Cr), exercising the option available in the original agreement made between Unilever and GSK. This will enable HUL to utilize cash on its balance sheet and create value for shareholders. In addition, it will enable HUL to drive better salience in a local context. The other brands which were under the ownership of GSKCH like Boost, Maltova and Viva come to HUL’s brand portfolio by virtue of the merger.
