By Elena Vardon
Pfizer made around 2.75 billion pounds ($3.50 billion) from the sale of part of its stake in consumer-healthcare business Haleon.
The pharmaceutical giant reduced its shareholding in Haleon to 22.6% from 32% previously through the disposal of 790.6 million shares in the group at a price of 308 pence, Haleon said on Tuesday. The price represents an around 7% discount Friday's closing price of 332.30 pence and represents a total of GBP2.43 billion.
Haleon had initially announced that Pfizer would sell 630 million of its shares to bring its stake down to 24%.
The London-listed group also confirmed that it bought back 102.3 million in its own shares off-market from Pfizer at the same price at as the offer's for around GBP315 million.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
03-19-24 0337ET