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By Omodele Adigun
AS the Suntory Beverage & Food Nigeria Limited is poised to take over the drink business of GlaxoSmithKline (GSK) Nigeria Plc, the shareholders of the latter are to enjoy a special dividend of N716 million from the deal.
This followed the shareholders’ approval of the proposed disposal of the business Monday in Lagos at the Extraordinary General Meeting (EGM) of the company.
Suntory Beverage bought British drinks brands, Lucozade and Ribena, from GSK Global in 2013 for £1.35 billion pounds ($2.1 billion at the time). Since then, the company has outsourced production and sales of the drinks in Nigeria to GSK Consumers Nigeria Plc.
Given fresh insight into the transaction, the Chairman of GSK Nigeria Plc, Mr. Edmund Onuzo, stated that the transaction would enable his company focus on consumer health and ensure it continues to deliver more effective and high quality treatments for healthcare consumers.
