GlaxoSmithKline plc (NYSE:GSK) (LON:GSK) said Wednesday it has agreed to sell 28.2 million shares in Aspen Pharmacare Holdings Ltd for $696.5 million.
Britain’s biggest pharmaceutical company would now be left with 56.5 million shares or 12.4% in the South African company.
GlaxoSmithKline to remain a significant shareholder
In today’s announcement, GlaxoSmithKline plc (NYSE:GSK) (LON:GSK) indicated it intends to sell up to roughly one-third of its 19% stake in Aspen by placing the ordinary shares of Aspen to institutional investors.
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