GSK to raise stake in India unit in $939 million deal

MUMBAI (Reuters) - GlaxoSmithKline Plc plans to buy up to an additional 31.8 percent stake in its Indian consumer products arm GlaxoSmithKline Consumer Healthcare Ltd for 52.2 billion rupees ($939 million), sending shares of the Indian unit to a record high. GlaxoSmithKline plans to raise its stake in GSK Consumer Healthcare to 75 percent from 43.2 percent, paying 3,900 rupees per share through an open offer, it said in a statement. The price represents a premium of 28 percent to the stock's Friday close. The offer period is expected to begin in January 2013. ...

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