GSK to sell Horlicks; Nestle, other food groups likely suitors

Agencies
March 28, 2018

London/New York, Mar 28: Food giants Nestle , Kraft Heinz and Unilever are expected to bid for GlaxoSmithKline`s Horlicks health nutrition business, which could fetch more than $4 billion, according to people familiar with the matter.

GSK has started a strategic review of Horlicks - a malt-based drink brand popular in India – and some of its smaller products, after buying Novartis out of their consumer healthcare venture for $13 billion on Tuesday.

The main asset on the block is GSK`s 72.5 percent stake in its Indian subsidiary GlaxoSmithKline Consumer Healthcare . The sources said the stake was worth $3.1 billion at current market prices but GSK wanted a premium in any sale.

They estimated the consumer health nutrition business, which also has smaller operations in Nigeria and Bangladesh, could fetch more than $4 billion.

Nestle, the world`s biggest packaged food company, has previously told GSK privately of its interest in Horlicks on several occasions, the people said.

Nestle already owns the malt drink Milo, but it is not a big-seller in India. The Swiss company declined to comment.

Unilever, the world`s largest tea company, and Kraft Heinz, which sells the powdered drinks Crystal Light and Kool-Aid, also declined to comment.

Horlicks is more than 140 years old with origins dating back to 1873, when two British-born men, James and William Horlick, first founded a company in Chicago to manufacture the drink. It was introduced to India by Indian soldiers who had fought with the British Army in the First World War.

Associated British Foods , which owns the malt drink brand Ovaltine, could look at the business to scale up in a key emerging market, the sources said, although the size of the GSK business could be a deterrent.

An ABF spokesman declined to comment.

The Indian business has an enterprise value of about 29 times core earnings, said one of the sources, meaning any deal premium will value it well above what many packaged food and drink brands fetch. The valuation is inflated by the high growth rates seen in the Indian market.

Nestle and Unilever could purchase the asset through their local Indian subsidiaries, Nestle India or Hindustan Unilever .

Other potential suitors might include Coca-Cola , PepsiCo , Suntory, Mondelez International and JAB, the coffee business owner that recently agreed to buy Dr Pepper Snapple, one of the sources said.

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News Network
January 7,2020

Mumbai, Jan 7: Against the backdrop of the attack on JNU students, the Shiv Sena on Tuesday hit out at Prime Minister Narendra Modi and Union Home Minister Amit Shah, alleging that what they wanted was happening, and said such "brutal politics" was never seen before in the country.

An editorial in Shiv Sena mouthpiece 'Saamana' further alleged that the BJP wanted to see "Hindu-Muslim riots" over the Citizenship Amendment Act, but that did not happen.

Since the BJP has been cornered over the issue of CAA, several things are happening out of "revenge", it said.

Comparing the attack on Jawaharlal Nehru University (JNU) students to the 26/11 Mumbai terror strikes, the Shiv Sena said: "divisive politics" was dangerous for the country.

It said the Union Home Ministry's decision to file cases against "unknown" attackers at JNU was laughable. "Those who entered JNU with masks are not unknown," it claimed.

On Sunday, a mob of masked young people stormed the Jawaharlal Nehru University (JNU) campus in south Delhi and targeted students in three hostels, unleashing mayhem with sticks, stones and iron rods, hitting inmates and breaking windows, furniture and personal belongings.

Nearly 34 people were injured in the violence.

"The fallout of JNU attack is being seen elsewhere in the country...what Modi and Shah want is happening. The country is in danger. Divisive politics is dangerous for the country," the Uddhav Thackeray-led party said.

Terrorists who attacked Mumbai on November 26, 2008, were also masked and the same was seen at JNU. Such elements need to be exposed, it said.

"Allowing blood stains in universities, colleges and beating up of students and indulging in politics over the burning situation...such brutal politics was never seen before," the Marathi publication said while terming the attack on JNU students as a "blot" on the law and order situation.

Lashing out at Amit Shah, the Sena said he his in Delhi and busy distributing official pamphlets door-to-door to promote the Citizenship Amendment Act.

There is "confusion and unrest" in the country over the new citizenship law, it pointed out.

"The BJP wanted to see Hindu-Muslim riots over the issue, but that did not happen. The nationwide protests are not being done by Muslims alone. Hindus will also be affected due to the new Act," the Shiv Sena said.

It said the BJP has been cornered over the CAA issue.

Since the prevailing situation is "BJP versus the rest", hence "out of revenge", several things are happening, the Marathi daily said, adding that "there is room for doubt if the JNU attack was part of the revenge."

The BJP has condemned the violence and said universities should stay away from politics, it noted.

"Who brought violence and politics in universities in the last five years? Who is implementing the policy of destroying those who don't agree with your ideology by use of power?" it asked.

Without taking any name, the Sena said those who call students opposing the CAA as anti-nationals, are themselves anti-national.

"When Amit Shah accuses Congress leaders Rahul Gandhi and Priyanka Gandhi of inciting violence, he admits that the Gandhi siblings have that much power to create mass awareness against a law brought in by the Centre and bring people to streets," the Sena said.

One cannot say if the Gandhi siblings incited violence, but one thing is sure that the Union Home Minister and his party are forced to distribute pamphlets to "clarify" on the new citizenship law, it said in sarcastic comments.

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News Network
June 9,2020

New Delhi, Jun 9: A record rise in COVID-19 cases in India for the seventh consecutive day has pushed the tally to over 2.6 lakh on Tuesday, with the daily nationwide spike in coronavirus cases inching close to 10,000.

The rise in cases comes at a time when the country has stepped out of a 75-day coronavirus lockdown with malls, religious places and offices opening in several parts of the country under strict conditions.

Since the onset of June, the country has also been witnessing over 200 COVID-19 fatalities each day that has taken the country's death toll to 7,466.

India is the fifth worst-hit nation by the COVID-19 pandemic after the US, Brazil, Russia and the UK, according to the Johns Hopkins University data.

Several states like Haryana, Jammu and Kashmir, Assam, Haryana, Karnataka, Chhattisgarh and Tripura among others have been showing a spurt in cases.

A total 266 new COVID-19 fatalities and 9,987 cases have been reported in the last 24 hours till Tuesday 8 am, according to the Union Health Ministry data.

The country has registered over 9,000 coronavirus infection cases for the sixth day in a row taking the country tally to 2,66,598.

The number of active novel coronavirus cases stands at 1,29,917, while 1,29,214 people have recovered and one patient has migrated, according to the Health Ministry data updated till 8 am.

"Thus, 48.47 per cent patients have recovered so far," a ministry official said.

According to the ICMR, a total of 49,16,116 samples have been tested as on 9 am, Tuesday, with 1,41,682 samples been tested in the last 24 hours.

Out of the total 7,466 fatalities reported till Tuesday 8 am, Maharashtra tops the tally with 3,169 deaths followed by Gujarat with 1,280 deaths, Delhi with 874, Madhya Pradesh with 414, West Bengal with 405, Tamil Nadu with 286, Uttar Pradesh with 283, Rajasthan with 246 and Telangana with 137 deaths.

The death toll reached 75 in Andhra Pradesh, 64 in Karnataka and 53 in Punjab.

Jammu and Kashmir has reported 45 fatalities due to the coronavirus disease, while 39 deaths have been reported from Haryana, 31 from Bihar, 16 from Kerala, 13 from Uttarakhand, nine from Odisha and seven from Jharkhand.

Himachal Pradesh and Chandigarh have registered five COVID-19 fatalities each and Assam and Chhattisgarh have recorded four deaths each so far.

Meghalaya and Ladakh have reported one COVID-19 fatality each, according to ministry data.

More than 70 per cent of the deaths are due to comorbidities, the ministry's website stated

The highest number of confirmed cases in the country are from Maharashtra at 88,528 followed by Tamil Nadu at 33,229, Delhi at 29,943, Gujarat at 20,545, Uttar Pradesh at 10,947, Rajasthan at 10,763 and Madhya Pradesh at 9,638, according to the Health Ministry's data updated in the morning.

The number of COVID-19 cases has climbed to 8,613 in West Bengal, 5,760 in Karnataka, 5,202 in Bihar and 4,854 in Haryana.

It has risen to 4,851 in Andhra Pradesh, 4,285 in Jammu and Kashmir, 3,650 in Telangana and 2,994 in Odisha.

Punjab has reported 2,663 novel coronavirus cases so far, while Assam has 2,776 cases. A total of 2,005 people have been infected by the virus in Kerala and 1,411 in Uttarakhand.

Jharkhand has registered 1,256 cases, while 1,160 cases have been reported from Chhattisgarh, 838 from Tripura, 421 from Himachal Pradesh, 330 from Goa and 317 from Chandigarh.

Manipur has 272 cases, Puducherry has 127 and Nagaland has reported 123 cases till now.

Ladakh has 103 COVID-19 cases, Arunachal Pradesh has 51, Mizoram has 42, Meghalaya 36 while Andaman and Nicobar Islands has registered 33 infections so far.

Dadar and Nagar Haveli has 22 cases, while Sikkim has reported seven cases till now.

The ministry's website said that 8,803 cases are being reassigned to states and "our figures are being reconciled with the ICMR".

State-wise distribution is subject to further verification and reconciliation, it said.

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News Network
February 27,2020

New Delhi, Feb 27: Congress leader Priyanka Gandhi Vadra on Thursday attacked the government over the transfer of Delhi High Court Judge S Muralidhar, saying the Centre's attempts to "muzzle" justice and "break people's faith in an upright judiciary are deplorable".

Delhi HC Judge S Muralidhar was transferred to the Punjab and Haryana High Court, days after the Supreme Court collegium made the recommendation.

"The midnight transfer of Justice Muralidhar isn't shocking given the current dispensation, but it is certainly sad & shameful," Priyanka Gandhi tweeted. "Millions of Indians have faith in a resilient & upright judiciary, the government’s attempts to muzzle justice & break their faith are deplorable," she said.

The judge was hearing the Delhi violence case and the late evening notification came on the day when a bench headed by him expressed "anguish" over the Delhi Police's failure to register FIRs against alleged hate speeches by three BJP leaders.

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