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“Growth has been a challenge in the recent periods,” Liberum analyst Robert Waldschmidt said watch movement cufflinks omega uk online. “They’re clearly expanding their emerging market footprint further and buying growth.”. Unilever will seek to leverage its formidable distribution network to boost sales of Horlicks in smaller cities and rural areas. The price is broadly in line with expectations. People familiar with the process had told Reuters it was likely to be sold for less than $4 billion. Graphic: GSK vs sector’s sales growth –

GSK’s decision to sell the business follows its $13 billion acquisition of Novartis’s (NOVN.S) stake in the two groups’ consumer health joint venture this year. GSK said at the time that selling Horlicks could support the funding of the Novartis buyout. The main asset being sold is GSK’s 72.5 percent stake in Indian-listed GlaxoSmithKline Consumer Healthcare (GLSM.NS) watch movement cufflinks omega uk online. Unilever said its 3.3 billion euros ($3.75 billion) consideration would be paid in cash and shares in its subsidiary in India, Hindustan Unilever Limited (HUL) (HLL.NS)..

Shares in both Indian companies rose more than 4 percent on Monday, highlighting a “win-win” deal for both sides, according to Anand Shah, senior vice-president, consumer at Axis Capital. “GSK’s portfolio gives HUL a strong foothold in foods and beverages, a space which it has been clearly lagging,” he said. It also gives the company greater access to India’s middle-class parents who increasingly have more discretionary wealth and are willing to pay a premium for children’s products watch movement cufflinks omega uk online.

But it may need to refresh Horlicks’ traditional brand image and slogan, which promises that the drink makes children “Taller, Stronger, Sharper,” marketing and brand experts said. GSK said its net proceeds from the sale, after tax and hedging costs, were expected to be around 2.4 billion pounds ($3.1 billion). Following the closure of the deal, which is expected in around 12 months, GSK will own approximately 5.7 percent of HUL and the British drugmaker intends to sell this down in tranches watch movement cufflinks omega uk online.

WASHINGTON (Reuters) – Uber Technologies Inc on Monday confirmed it hired a senior U.S. auto safety official involved in the federal government’s handling of self-driving cars for its autonomous vehicle efforts watch movement cufflinks omega uk online. Nat Beuse, a long-time official at the National Highway Traffic Safety Administration (NHTSA) overseeing vehicle safety research, is the latest federal official to join the private sector’s effort to commercialize self-driving vehicles. “Uber’s approach to self-driving vehicles is an opportunity to make a difference in the safe commercialization of this revolutionary technology, which I’ve spent a considerable amount of time working with in recent years,” Beuse said in a statement released by Uber. “It’s clear to me that the team here is dedicated to prioritizing safety.”..