The Rising Influence of Rising Affluence

[DewDiligence]

GSK raises stakes in India and Nigeria:

http://www.reuters.com/article/2012/11/26/us-gskconsumer-shares-idUSBRE8AP03N20121126

GlaxoSmithKline Plc plans to spend more than $1 billion to raise stakes in its Indian and Nigerian consumer healthcare arms, as Britain's biggest drugmaker deepens its emerging markets and non-prescription consumer health footprint.

… GSK said on Monday it will buy up to an additional 31.8 percent stake in India's GlaxoSmithKline Consumer Healthcare Ltd for about $940 million by paying 3,900 rupees ($70.16) per share in an open offer. The price was a premium of 28 percent to the stock's Friday close.

On similar lines, GSK also said it plans to raise the stake in its Nigerian consumer products unit to 80 percent from 46.4 percent now in a $98 million deal.

Post the offer, GSK's stake in the Indian consumer products arm, which makes health drinks and over-the-counter drugs and balms, will rise to 75 percent from 43.2 percent.