GSK Egypt approves valuation report for consumer healthcare assets

Cairo – Mubasher: The board of directors of GlaxoSmithKline (GSK Egypt) approved a fair value (FV) report prepared by the independent financial advisor Grant Thornton - Egypt for the consumer health business assets.

These assets include the relevant intangible and movable assets, excluding real estate and machinery, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

The independent financial advisor valued these assets at EGP 1.179 billion, the statement showed.

In the first half (H1) of 2021, the company reported consolidated net profits of EGP 20.63 million, down from EGP 115.96 million in H1-20, including minority shareholders' rights.

Source: Mubasher

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