GSK May Pay As Much As $1.03 Billion For 75% Stake In India Unit
This article was originally published in PharmAsia News
Executive Summary
GlaxoSmithKline's U.K. headquarters is willing to pay as much as $1.03 billion to gain 75% of the shares of its India subsidiary GSK Pharmaceuticals, but apparently seeks no higher control.
GlaxoSmithKline's U.K. headquarters is willing to pay as much as $1.03 billion to gain 75% of the shares of its India subsidiary GSK Pharmaceuticals, but apparently seeks no higher control. The decision to stop at that level was indicated by GSK's statement it has no plan to take the subsidiary private, meaning shares would be available for ownership by the public. In addition, in order to keep a company listed on an India stock exchange, at least 25% of shares must be available. (Click here for more
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"GSK Pharma's Billion-Dollar Buyback" - Forbes (U.S.) (2/21/2014)