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).

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com.