Haleon plc: Completion of
additional 33% stake in China JV
31
December 2024: Haleon plc (the
"Company" or "Haleon") (LSE/NYSE: HLN) today announces that it has
completed the acquisition of an additional 33%1 equity
interest in Tianjin TSKF Pharmaceutical Co. Ltd ("TSKF"), its joint
venture in China from its partners, Tianjin Pharmaceutical Group
("TPG") and Tianjin Pharmaceutical Da Ren Tang Group Corporation
Limited ("DRTG").
On 27 September 2024, Haleon
announced that it had entered into an agreement to acquire an
additional 33%1 equity interest in TSKF for a total
consideration of RMB 4,465 million (c. £0.5 billion). The
transaction is expected to be accretive to EPS.
This announcement follows the
approval by DRTG's shareholders at the DRTG Extraordinary General
Meeting on 22 November 2024. All other applicable necessary
clearances have also been obtained.
As noted in the initial
announcement, Haleon and DRTG have agreed that Haleon has an option
to acquire and DRTG an option to sell the remaining 12%
shareholding in TSKF.
Notes
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1.
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This transaction consists of a
simultaneous and inter-conditional purchase of the entire 20%
equity interest in TSKF held by TPG and a 13% equity interest in
TSKF held by DRTG.
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Amanda Mellor
Company Secretary
Enquiries
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Investors
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Media
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Rakesh
Patel
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+44 7552 484646
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Zoë Bird
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+44 7736 746167
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Emma White
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+44 7823 523562
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Gemma Thomas
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+44 7985 175048
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Email:
investor-relations@haleon.com
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Email:
corporate.media@haleon.com
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About Haleon
Haleon (LSE/NYSE: HLN) is a global
leader in consumer health, with a purpose to deliver better
everyday health with humanity. Haleon's product portfolio spans
five major categories - Oral Health, Pain Relief, Respiratory
Health, Digestive Health and Other, and Vitamins, Minerals and
Supplements (VMS). Its long-standing brands - such as Advil,
Sensodyne, Panadol, Voltaren, Theraflu, Otrivin, Polident,
parodontax and Centrum - are built on trusted science, innovation
and deep human understanding.
For more information, please
visit www.haleon.com.
About TSKF
Founded in 1984, TSKF is a joint
venture of Haleon, TPG and DRTG in China. TSKF is a leading
OTC company that manufactures and distributes renowned products
under Haleon's brands in China, such as Fenbid, Contac,
Bactroban, Voltaren and Flixonase in major therapeutic areas such
as Pain Relief, Respiratory Health and Skin Health.
About TPG
TPG is a large-scale pharmaceutical
group based in China. TPG is engaged in the research and
development, manufacturing and
commercialisation across four major business sectors
including traditional Chinese medicine, chemical and biological
pharmaceuticals, high-end medical devices, and modern commercial
logistics. The Company is ranked among China's top 500
enterprises.
About DRTG
DRTG (SHSE: 600329 / SGX: T14) is
the core pharmaceutical manufacturing arm of TPG. DRTG is engaged
in the research, development and manufacturing of Chinese herbal
medicines, proprietary Chinese medicines, western medicine, and
other products primarily in China. The company is also
involved in the wholesale and retail of medicines in China.
DRTG was founded in 1981 and listed on the Singapore Stock Exchange
and the Shanghai Stock Exchange.