GSK opts to sell off Lucozade and Ribena drink brands
LONDON, April 24
LONDON, April 24 (Reuters) - GlaxoSmithKline has decided to sell its popular soft drink brands Lucozade and Ribena in a disposal that could bring in more than 1 billion pounds ($1.5 billion).
The move was announced on Wednesday alongside weak first-quarter results, which saw sales at Britain's biggest drugmaker drop 3 percent from a year ago.
GSK launched a strategic review of the two brands earlier this year, ruling nothing in or out for their future. Most analysts had focused on the idea of a sale, which is likely to attract interest from private equity and trade buyers.
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