GlaxoSmithKline Sells Stake in Hindustan Unilever

Cleary Gottlieb advised GlaxoSmithKline plc (GSK) on U.S. matters in the sale of its 5.7% stake in Hindustan Unilever Limited.

The disposal was effected on the BSE and the National Stock Exchange of India following an accelerated book-building process and raised gross proceeds equivalent to approximately Rs. 254.8 billion (approximately $3.4 billion).

GSK is a major global healthcare company engaged in the creation, discovery, development, manufacturing, and marketing of pharmaceutical and consumer health-related products.