Haleon PLC (GB:HLN) has released an update.
Haleon PLC has announced the strategic acquisition of an additional 33% stake in Tianjin TSKF Pharmaceutical Co. Ltd, increasing its share to 88% for about £0.5 billion, aiming to strengthen its market position in China. The transaction, expected to close by the end of 2024, will be financed through Haleon’s existing cash and new debt, and is anticipated to enhance shareholder earnings per share. This move underlines Haleon’s commitment to the Chinese market and aligns with its strategy to foster attractive shareholder returns while maintaining a strong balance sheet.
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