Retail

Pfizer to sell approximately 6% stake in Sensodyne-maker Haleon

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Pfizer (NYSE:PFE), the U.S. pharmaceutical giant, is set to further reduce its ownership in the consumer healthcare company Haleon.

According to a bookrunner, Pfizer intends to sell approximately 540 million shares of Haleon, which would decrease its stake to 16.2%.

In a separate announcement, Haleon revealed it had agreed to an off-market purchase of about £230 million ($308.18 million) worth of ordinary shares from Pfizer.

This comes after Pfizer's previous sale in March, where the U.S. pharmaceutical giant divested around $3.5 billion worth of its stake in Haleon.

That marked the first such transaction since Haleon was spun off from GSK (NYSE:GSK) and listed on the London Stock Exchange in 2022.

Pfizer had previously indicated plans to reduce its ownership in Haleon "slowly and methodically."

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