Thursday, 23 May, 2019
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India’s malt-based hot drinks segment is estimated to be worth 78.7 billion rupees ($1.1 billion), according to Euromonitor International. Rob Dawson/Bloomberg

Unilever adds Horlicks in $3.8 billion deal for Glaxo India

Glaxo rose 1.4 per cent in early trading in London. Unilever rose 0.6 per cent in Amsterdam. Unilever agreed to acquire GlaxoSmithKline Plc’s Indian consumer business, including malted milk drink Horlicks, for 3.3 billion euros ($3.8 billion) to boost its footprint in one of the world’s fastest-growing major economies. It’s one of the Anglo-Dutch company’s largest acquisitions under departing Chief Executive Officer Paul Polman, who in January is handing over to personal-care head Alan Jope. It’s also the first major deal since a plan to combine the company’s headquarters in the Netherlands collapsed under investor pressure in October. The transaction strengthens Unilever’s presence in the emerging markets that account for about two-thirds of its revenue. The Dove soap maker will use cash and shares of its Indian subsidiary to take control of a new venture that includes Glaxo’s listed entity in the country, where Unilever has been selling products since the...
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Unilever needs luck to gain energy from Horlicks deal in India

Horlicks is facing a challenge, even in India. The drink is losing its star status as the ‘healthy’ morning and after-school drink.

As demand picks up Indian companies pass on higher prices to consumers

More than 1,200 manufacturing firms polled by the Reserve Bank of India reported input price pressures and an increase in selling prices.

Emerging market firms are new darlings of investors as US multinationals fall out of favor

It is highly likely that investors have realised the U.S. market has become very expensive. And, the cash yield offered by S&P 500 companies can no longer keep pace with rising interest rates.

On Camera

2019 result

What can we expect from Narendra Modi in his second term?

The BJP-led NDA is set to come back to power as Narendra Modi’s party registers a landslide victory in the 2019 Lok Sabha elections.

Defence

Pakistan sends a ‘message’ to Modi, test-fires nuclear missile on day of his poll sweep

Pakistan tested ballistic missile Shaheen-II, which has a range of 1,500 km. Indian security experts say timing of the test clear signal to new govt.
Prime Minister Narendra Modi in Varanasi in 2014 | Commons

Pracharak Modi: The mask you see, is the man you get

India has its first leader who is unapologetic about belonging to the social and political Right. This is how Shekhar Gupta foresaw Modi’s five years in this National Interest within three months of his victory in 2014.