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BRIEF-GSK to sell half of 12.4 pct stake in Aspen Pharmacare
March 12, 2015 / 3:21 PM / 3 years ago

BRIEF-GSK to sell half of 12.4 pct stake in Aspen Pharmacare

March 12 (Reuters) - Glaxosmithkline Plc

* Gsk intends to sell part holding in Aspen

* Intends to sell approximately half of its 12.4 pct stake in Aspen Pharmacare Holdings Ltd

* Disposal will be through a placing of ordinary shares in aspen to institutional investors

* Offering is expected to comprise 28.2 million Aspen ordinary shares equivalent to c.6.2 pct of Aspen’s issued share capital

* After proposed deal, GSK would remain a c.6.2 pct shareholder in Aspen and has undertaken not to dispose of any shares in Aspen for a period of 180 days following completion

* Net profit on disposal will not be included in core operating profit and core EPS in 2015

* It is expected that GSK will no longer account for Aspen as an associate going forward Source text for Eikon: Further company coverage:

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