GSK Egypt hires Grant Thornton to assess consumer healthcare assets

The company will spin off its consumer healthcare business

  
The GlaxoSmithKline (GSK) logo. March 21, 2018. REUTERS/Loriene Perera/File Photo Image used for illustrator purpose

The GlaxoSmithKline (GSK) logo. March 21, 2018. REUTERS/Loriene Perera/File Photo Image used for illustrator purpose

REUTERS/Loriene Perera
Cairo -  The board of directors of GlaxoSmithKline (GSK Egypt) decided to hire Grant Thornton Egypt as an independent financial advisor to assess the fair value (FV) of its intangible and movable consumer healthcare assets, excluding real estate and machinery assets, according to a bourse disclosure on Wednesday.

This step follows the parent company's announcement to separate its pharmaceuticals and vaccines business from its consumer healthcare business globally.

GlaxoSmithKline Trading Services Limited, one of the main trading companies of the group, expressed its desire to acquire the consumer health business assets, excluding real estate and machinery, for a fair value consideration estimated by an independent financial advisor to be hired by the company.

Source: Mubasher

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