Nestlé, Unilever in pole position for GSK's Horlicks business, says reports
Updated : November 28, 2018 11:29 AM IST
The auction for the assets, including popular malt-based health drinks brands Horlicks and Boost, could fetch more than $4 billion, sources told Reuters previously. GSK owns a 72.5 percent stake in the business, GlaxoSmithKline Consumer Healthcare Ltd.
Times of India reported on Wednesday, citing sources, that Nestlé is close to buying Horlicks and other GSK consumer healthcare assets but will not merge the business with its own local unit, Nestlé India Ltd.
If either of these two companies win the auction, that would mean they beat out Coca-Cola, another likely suitor who has been looking to expand in emerging markets as growth in the United States slows.