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GSK Ups Stake in Consumer Units

Will invest $1 billion in India and Nigeria subsidiaries

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By: Tim Wright

Editor-in-Chief, Contract Pharma

GlaxoSmithKline and GlaxoSmithKline Consumer Nigeria PLC have reached an agreement under which GSK would increase its ownership in the company from 46.4% to 80%. GSK would acquire approximately 321 million shares in a transaction valued at approximately $99.4 million. GSK has also initiated an offer to increase its stake in its Indian subsidiary, GSK Consumer Healthcare Ltd., from 43.2% to as much as 75%. That offer, which is subject to the rules of the Securities and Exchange Board of India, wi...

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