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Baker McKenzie and Cyril Amarchand Mangaldas have advised Unilever on its agreement to buy GlaxoSmithKline Horlicks nutrition business in India for $3.8 billion, with Slaughter and May and AZB & Partners representing the sellers.

According to Reuters, while many of Unilever’s recent acquisitions focussed on beauty and personal care products, buying the popular malted drink Horlicks is an opportunity for the Anglo-Dutch group to increase its scale in the country, particularly in food and drinks.

The transaction covers GSK’s health food and drinks portfolio in India, Bangladesh and 20 other predominantly Asian markets. The business has annual sales of around $625 million, Reuters added.

The Cyril Amarchand Mangaldas team was led by Mumbai-based managing partner Cyril Shroff, who was supported along with Bangalore corporate partner Nivedita Rao and Mumbai corporate partner Ramgovind Kuruppath, New Delhi IP partner Ranjan Negi, Mumbai competition partner Bharat Budholia and head of taxation Daksha Baxi.

 

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