Fair trade regulator Competition Commission of India on Friday approved the merger between GSK Consumer NSE 0.20 % Healthcare (GSKCH) and Hindustan UnileverNSE 0.41 %.
“We would like to inform you that the CCI has, vide its letter dated January 23, 2019 (received on January 25, 2019), accorded its approval for the amalgamation of the Company with HUL,” GSKCH India said.
The merger now has to pass other regulations and approvals from Sebi and NCLT. “The scheme remains subject to the receipt of other necessary statutory and regulatory approvals under applicable laws, including by the NSE, SSE, SEBI, NCLT and the respective shareholders and creditors of HUL and the company,” GSKCH India said.
Source: Economic Times