GSK selling shares worth $3.45 billion in Hindustan Unilever: Reports

GlaxoSmithKline (GSK) is planning to sell shares worth $3.45 billion in Hindustan Unilever, reports said. HUL had struck a deal to acquire Horlicks and Boost from GSK for $3.8 billion in December 2018. GSK had accepted a 5.7% stake in Hindustan Unilever as partial payment in the planned JV formed between the two firms, which was completed in April.