AZB & Partners and Cleary Gottlieb Steen & Hamilton have advised GlaxoSmithKline (GSK) on the $3.4 billion sale of its entire stake in India’s Hindustan Unilever, with Latham & Watkins representing the placement agents.
According to Reuters, this marks India’s largest secondary market block trade, and the tenth-largest globally. GSK, which owned a 5.7 percent stake in Hindustan Unilever is looking to split into two entities.
The AZB team was led by partners Vinati Kastia, Daksh Trivedi, Ajay Bahl and Ankit Tandon.
A Latham & Watkins team led by partners Rajiv Gupta and Jiyeon Lee-Lim advised Morgan Stanley India Company, J.P. Morgan India and HSBC Securities and Capital Markets (India).
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