LONDON: British drugmaker GlaxoSmithKline said it intends to increase its holdings in its Indian and Nigerian divisions, as part of a long-term strategy to expand into emerging markets, in a statement yesterday.
GSK said it had offered to buy an additional stake of up to 31.8 percent of its Indian unit, GlaxoSmithKline Consumer Healthcare Ltd., in a bid pitched at Rs. 3,900 per share.
The proposed voluntary open offer, which would lift its holding from 43.2 percent to up to 75 percent, is worth about 591 million pounds ($ 941 million, 730 million euros) or Rs. 52.2 billion, funded through existing cash resources.
"GSK Consumer Healthcare is a well established business in India and its leading product, Horlicks, is an iconic household brand," the group's chief strategy officer David Redfern said in a statement.
"This transaction represents a further step in GSK's strategy to invest in the world's fastest growing markets and, we believe, offers a liquidity opportunity at an attractive premium for existing shareholders."
In a separate statement, London-listed GSK said it has also reached a deal in principle to ramp up its stake in GlaxoSmithKline Consumer Nigeria PLC from 46.4 percent to 80 percent, in a proposed transaction worth some 62 million pounds.
Redfern added: "This proposal to increase GSK's ownership of GlaxoSmithKline Consumer Nigeria reiterates our long term support of the company's strategy and our confidence in the continuing growth prospects of the business."
In morning deals, GSK's share price dipped 0.71 percent to 1,337.50 pence on London's FTSE 100 index of top companies, which was 0.44 percent lower at 5,793.25 points.
Keith Bowman, equities analyst at brokerage Hargreaves Landsdown, said the move was part of GSK's wider strategy.
"The emerging markets continue to form an important growth driver for GSK," Bowman told AFP.
"Today's moves appear to underline management's confidence in expected long term growth for both locations."
GSK unveils expansion plans in India, Nigeria
GSK unveils expansion plans in India, Nigeria
Karl Lagerfeld and Aark Developers announce luxury beachfront residential project in Ras Al-Khaimah
Karl Lagerfeld and Aark Developers have signed a partnership to develop Karl Lagerfeld Residences, a beachfront residential project in Ras Al-Khaimah, ideally located on Al-Marjan Island. The signing ceremony took place on Dec. 10 in Paris at Karl Lagerfeld’s office, in the presence of Pier Paolo Righi, CEO of Karl Lagerfeld, and Rahul Kumar Gupta, chairman of Aark Developers.
Valued at over $1.4 billion, this iconic ultra-luxury waterfront development is set to redefine beachfront living in the UAE and is scheduled for completion in 2028, delivering a collection of 663 sea view residences. The residences range from one to four bedrooms, with select residences offering private pools. The collection also comprises 20 podium villas, 10 ultra-exclusive sky villas/penthouses, and 11 rare beachfront villas, each with its own private pool. Residents will enjoy access to a fully curated lifestyle featuring two signature cafés and restaurants, a destination beach club, and a spectacular sky bar with an infinity pool, offering its own 1,000-feet private beach, creating an address defined by architectural excellence, exclusivity, and resort-style living at an unprecedented scale.
Set within Ras Al-Khaimah’s fast-growing development landscape, Al-Marjan Island continues to establish itself as a luxury hub for tourism, hospitality, and entertainment in the region. The area’s outlook is further strengthened by the upcoming Wynn Al-Marjan Island integrated resort, set to open in 2027 and expected to elevate the emirate’s international profile.
“This project marks a defining expression of how the Karl Lagerfeld universe can redefine modern living,” said Righi. “With Aark Developers, we are creating a signature landmark on Al-Marjan Island, one that brings Karl’s visionary design language into a breathtaking large-scale residential experience. It is a project we are genuinely proud to share with the region.”
Gupta added: “What brought Aark Developers and Karl Lagerfeld together is a mutual commitment to detail, refinement, and creating spaces with purpose. We believe that great design goes beyond aesthetics — it shapes how people feel, interact, and live. This project on Al-Marjan Island embodies that vision, offering a living experience rooted in quality, harmony, and enduring elegance.”
This is Karl Lagerfeld’s second branded project in the Middle East. A launch event in Dubai is planned for Q1 of 2026.
Karl Lagerfeld continues to expand its presence in hospitality and branded living, with projects including Karl Lagerfeld hotels in Macau and Marbella, Dubai Villas, and Lisbon Residences.
