GLAXOSMITHKLINE Board of Directors Accepts Suntory Beverage & Food Ltd's Offer for Divestment

Proshare

Wednesday, June 01, 2016 3:24PM /NSE

Today, the Board of Directors of GlaxoSmithKline Consumer Nigeria Plc ( GSK Nigeria announces that it has accepted and is recommending for approval by shareholders, a binding offer from Suntory Beverages & Food Nigeria Lts, a subsidiary of Suntory Beverage and food Limited ("SBF") for the divestment of its drinks bottling and distribution business.

The principal terms of the offer will be set out in a circular to the shareholders.

If the shareholders and regulators were to approve the sale, the retained business of GSK Nigeria would include its wellness, Oral healthcare, Nutrition and Pharmaceuticvals/Vaccines businesses, and the Company would remain listed on the Nigerian Stock Exchange (NSE).

Further details will be communicated to the market in due course.

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