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. 

Related Articles

Deals

GT, Goodwin act as Japan's Ono buys U.S. drugmaker for $2.4 bln

by Asian Legal Business《亚洲法律杂志》 |

Greenberg Traurig has represented Japan’s Ono Pharmaceutical Co on its $2.4 billion acquisition of  U.S.-based cancer drugmaker Deciphera, which was advised by Goodwin Procter.

Deals

R&T, WongP, Lee & Lee advise on $595 mln TCM deal

by Nimitt Dixit |

Singapore law firms WongPartnership, Lee & Lee and Rajah & Tann (R&T), and R&T’s Malaysian member firm Christopher & Lee Ong have advised traditional Chinese medicine firm Eu Yan Sang International (EYS) and its shareholders on the sale of 86 percent of EYS’ shares.

Deals

Skadden advises Cemex on $650 mln Philippines divestment

by Nimitt Dixit |

U.S. law firm Skadden, Arps, Slate, Meagher & Flom has advised Mexico-based multinational building materials company Cemex on the sale of its operations and assets in the Philippines to Dacon Corporation, DMCI Holdings, and Seminara Mining and Power Corporation.