£1billion sale set to put GlaxoSmithKline in cordial mood
DRUGS giant GlaxoSmithKline yesterday put its Lucozade and Ribena drinks up for sale for a tasty £1billion.
Analysts said private equity and trade buyers, including Japanese food and drinks group Suntory, are likely to be interested paying up to £1billion.
GSK, which placed the iconic brands under review in February, said it had already received significant interest in Lucozade, which dates back to 1927, and Ribena, introduced 10 years later.
Analysts said private equity and trade buyers, including Japanese food and drinks group Suntory, are likely to be interested paying up to £1billion.
It came as GSK, led by boss Andrew Witty, said group sales in the first quarter fell 3 per cent to £6.47billion.