London/Rotterdam – Unilever today announced it has signed an agreement to acquire the Health Food Drinks portfolio (GSK HFD) of GlaxoSmithKline (GSK) in India, Bangladesh and 20 other predominantly Asian markets. The transaction consists of three elements: all-Equity Merger of Hindustan Unilever Ltd (HUL) with the publicly listed GSK Consumer Healthcare India (GSK CH India),…
Following the completion of its previously announced strategic review, GlaxoSmithKline plc (LSE/NYSE: GSK) today announces the divestment of Horlicks and other consumer healthcare nutrition brands to Unilever plc (“Unilever”) and the merger of GSK Consumer Healthcare Limited (“GSK India”) with Hindustan Unilever Limited (“HUL”) for a total consideration valued at approximately £3.1 billion based on…
DOHA (Reuters) – Qatar said on Monday it was quitting OPEC from January 2019 but would attend the oil exporter group’s meeting this week, saying the decision meant Doha could focus on cementing its position as the world’s top liquefied natural gas (LNG) exporter. Doha, one of the smallest oil producers in the Organization of…
Iconic diversified multinational conglomerate, Hayleys PLC, maintained its position at the forefront of Sri Lanka’s corporate sector by becoming No.1 in the 25th edition of the LMD Top 20 for the second consecutive year. The announcement of the LMD Top 20 was made ahead of the complete Top 100 list which will be released in…
EASA-145 Base Maintenance operations on Airbus A330 aircraft The European Aviation Safety Agency (EASA) has approved SriLankan Engineering to carry out Base Maintenance operations on Airbus A330 aircraft as per EASA Part-145 regulations. SriLankan Engineering is the aircraft Maintenance-Repair-Overhaul (MRO) arm of SriLankan Airlines, the national carrier of Sri Lanka. This certification completes the requirements…
Despite massive ‘Tax Cut’ that was announced on 1st November that came soon after the Prime Minister and Minister of Finance and Economic Affairs Mahinda Rajapaksa was appointed on a ‘Surpirsed Friday’ on October 26th 2018 by the President Maithripala Sirisena, general public have recently discovered that none of the banks in the country had removed the…
Sri Lanka’s newly formed government of Maithripala Sirisena as President and Mahinda Rajapaksa as Prime Minister had reduced the sugar tax on sweetened beverages imposed by the previous ‘Yahapalana’ government which was said to be a measure to control the prevalence of diabetes that time. However it is forecasted by analysts that the Sugar Tax…
Braybrooke Residential Towers (Pvt) Ltd, signed an agreement with the Board of Investment for TRI-ZEN a pioneering residential development. The project is a joint venture between JK Land (Pvt) Ltd (subsidiary of John Keells Holdings PLC) and Indra Traders (Pvt) Ltd and the project will be marketed and managed by John Keells under its brand…
Reuters – Marriott International said on Friday hackers stole about 500 million records from its Starwood Hotels reservation system in an attack that began four years ago, exposing personal data of customers including some payment card numbers. Shares of the company were down 4 percent at $117 in premarket trading. The hack began in 2014,…
Sri Lanka’s Super Market King and the person who introduced super marketing concept to the country converting his family conglomerate Cargills Ceylon to foray into retailing and food and beverage manufacturing at large – Ranjit Page recently stressed that the way forward for Sri Lanka is to develop and make retailing as a professionalism. He…
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