GSK Completes Sale of Remaining Stake in Haleon
Quote from VATcal on 17/05/2024, 20:17GlaxoSmithKline plc (GSK) has announced the completion of the sale of its remaining shares in Haleon plc, marking a full exit from its former consumer healthcare business.
The sale, announced yesterday, involved 385,320,110 ordinary shares in Haleon at a price of 324 pence per share, raising gross proceeds of approximately £1.248 billion. Following this transaction, GSK no longer holds any ordinary shares in Haleon.
This follows a series of disposals by GSK since the demerger of its consumer healthcare business in July 2022. GSK initially retained a 12.94% stake in Haleon, but has since sold a total of 1.195 billion ordinary shares for cumulative gross proceeds of approximately £3.9 billion.
"GSK's exit of its position in Haleon is consistent with its previous commitments to monetise its holding in a disciplined manner," the company stated in a press release.
The sale marks a significant milestone for both GSK and Haleon. GSK can now focus on its core pharmaceuticals business, while Haleon continues to operate as an independent company. Haleon owns well-known consumer healthcare brands such as Advil, Panadol, and Beechams.
GlaxoSmithKline plc (GSK) has announced the completion of the sale of its remaining shares in Haleon plc, marking a full exit from its former consumer healthcare business.
The sale, announced yesterday, involved 385,320,110 ordinary shares in Haleon at a price of 324 pence per share, raising gross proceeds of approximately £1.248 billion. Following this transaction, GSK no longer holds any ordinary shares in Haleon.
This follows a series of disposals by GSK since the demerger of its consumer healthcare business in July 2022. GSK initially retained a 12.94% stake in Haleon, but has since sold a total of 1.195 billion ordinary shares for cumulative gross proceeds of approximately £3.9 billion.
"GSK's exit of its position in Haleon is consistent with its previous commitments to monetise its holding in a disciplined manner," the company stated in a press release.
The sale marks a significant milestone for both GSK and Haleon. GSK can now focus on its core pharmaceuticals business, while Haleon continues to operate as an independent company. Haleon owns well-known consumer healthcare brands such as Advil, Panadol, and Beechams.
