Sundiata Post investigations, howegathered that GSK will be seeking approvals from its shareholders, finalising the process for sale of the unit to SBF.
If the sale pulls through, GSK will only be left with its Wellness, Oral healthcare, Nutrition and Pharmaceutical/Vaccines business units. It will still be listed on The Exchange.
With this move, GSK would no longer be the owner of Lucozade Boost and Ribena. Other products have been discontinued. The company’s decision might not be unconnected in the bottled drinks business which has become a free-for-all space for giants like CoCa Cola, Pepsi and even alcoholic bottlers such as Nigeria Breweries and Guinness.
Suntory Beverage and Food Limited, SBF is a major soft drink company headquartered in Japan. The company’s revenue at 2015 full year was 1.2 trillion. It has 100 companies in its group with over 24,o00 employees worldwide.
Shares of GSK fell from N21 per share to 20 per share after the announcement of the deal.
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