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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Haleon Plc | LSE:HLN | London | Ordinary Share | GB00BMX86B70 | ORD GBP0.01 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.30 | 0.40% | 329.90 | 328.30 | 328.50 | 330.80 | 327.50 | 329.00 | 31,767,296 | 16:35:12 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Offices-holdng Companies,nec | 11.3B | 1.05B | 0.1136 | 28.91 | 30.33B |
From Nov 2023 to May 2024
By Michael Susin
Haleon said that it has agreed to sell ChapStick lip-care brand to Suave Brands Co. for up to $510 million as it seeks to divest from non-core assets and reduce debt.
The consumer-healthcare business--which was spun out of GSK and is partly owned by Pfizer--said on Thursday it will receive cash proceeds of around $430 million, as well as a passive minority interest in the Suave Brands Co.--a portfolio company of private-equity firm Yellow Wood Partners--valued at up to $80 million.
Haleon said proceeds from the sale will be used to pay down debt.
"[ChapStick] is not a core focus for Haleon. Selling the brand allows us to simplify our business and pay down debt more quickly," Chief Executive Brian McNamara said.
The sale is expected to close in the second quarter of 2024.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
January 25, 2024 02:38 ET (07:38 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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