GSK offers $1 billion to raise stake in Indian unit

GlaxoSmithKline GSK on Monday became the latest multinational to boost its investments in India, with a 629 million $1 billion offer to increase its stake in its India-listed drug unit

The UK-listed pharmaceuticals group is offering Rp3100 per share in GlaxoSmithKline Pharmaceuticals, a premium of about 26% to the stock's December 13 close on the National Stock Exchange of India, taking its stake from 50.7% to as much as 75%. 

Earlier this year, GSK raised its stake in another Indian listed unit - GlaxoSmithKline Consumer Healthcare - from 43% to 72.5% for about $900 million.

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