Thursday, January 28, 2016 02.30 PM/NSE
Today, the Board of Directors of GlaxoSmith Kline Consumer Nigeria Plcannounces that it has received a non-binding offer from Suntory Beverage & Food Ltd for the divestment of its drink bottling and distribution business. The Board has therefore granted Suntory access to certain due diligence information in GSK.
There can be no assurance that Suntory will make a binding offer following completion of their due diligence review, or whether the terms of such offer will be acceptable.
The financial terms of Suntory’s non-binding offer remain confidential.
The decision is subject to shareholder and regulatory approval.If the transaction is agreed and the shareholder and regulators were to approve the sale, the retained business of GSK Nigeria would comprise of its Wellness, Oral healthcare, Nutrition and Pharmaceutical/Vaccines business, and the Company would remain listed on the Nigerian Stock Exchange.
Further details will be communicated to the market in due course.