GSK completes divestment, to pay shareholders special dividend

GlaxoSmithKline Consumer Nigeria plc, has announced the successful completion of divestment of its drinks bottling and distribution business to Suntory Beverage & Food Nigeria Limited (SBFN).

In a letter to the Nigerian Stock Exchange on Friday, it noted that following this approval, GSK has transferred ownership of the drinks business in Nigeria to Suntory Beverage & Food Nigeria Ltd effective October 1, 2016, following the recent approvals obtained from the shareholders and the Nigeria Securities & Exchange Commission (SEC).

The new GSK Consumer Healthcare Company (retained business) consists of the Consumer Healthcare Wellness, Oral Healthcare and Nutrition categories and Pharmaceutical business, with a portfolio of leading healthcare brands.

The retained brands include Sensodyne, Macleans, Panadol, Horlicks, Andrews Liver Salts, Voltaren, Otrivin and CAC 1000.

GSK Nigeria will continue to be listed on the Nigerian Stock Exchange (NSE).

In the light of the successful completion of the divestment, the company’s Register of Members and Register of Transfers  would  be closed from Monday, October 3, 2016 to  Friday, October 7, 2016, both days inclusive.

Dividend warrants for the special dividend declared by the company at its Extraordinary General Meeting in July, 2016, subject to appropriate withholding tax deductions, will  be  posted  on October  12, 2016  to  holders  of  shares  whose  names  appear  in  the  Register of Members at close of business on  September 30, 2016.