27th Oct 2014 06:30
LONDON (Alliance News) - Reckitt Benckiser Group PLC is expected to send a circular to investors in November detailing plans to spin off its pharmaceutical division into a separately listed entity, The Daily Telegraph reported on Sunday.
The FTSE 100 consumer goods group is expected to tell shareholders on November 17 that it will hand them shares in the new business in proportion to the shares they already hold in the company, the paper said.
The listing will not be open to new investors, nor be used to raise new money, it added, citing sources.
http://www.telegraph.co.uk/finance/newsbysector/epic/rbdot/11187075/Reckitt-Benckiser-to-detail-spin-off-plan-next-month.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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