Unilever to acquire a 5.7% stake in Hindustan Unilever from GSK for $3.3bn.

Unilever, a British-Dutch transnational consumer goods company, agreed to acquire a 5.7% stake in Hindustan Unilever, its Indian subsidiary which products include foods, beverages, cleaning agents, personal care products, water purifiers and consumer goods, from GlaxoSmithKline, a British multinational pharmaceutical company, for $3.3bn. The transaction comes as GSK pursues a two-year programme to split into two entities after it made costly bets on experimental cancer treatments and future cell and gene therapies amid sluggish revenue growth.