The company plans to cancel around 30 million of the shares it purchased from Pfizer, contributing to its ongoing £500 million share buyback program. The remaining 30.5 million shares will be held in treasury to fulfill employee share plans.
Pfizer Sells Shares In Haleon : Pfizer’s Reduced Stake
Following the share sale and buyback, Pfizer’s stake in Haleon will decrease to 15% from 22.6%. The transactions are expected to close on Oct. 3. Earlier this year, Pfizer reduced its holding in Haleon to 24% by selling approximately 630 million shares and participating in a similar buyback deal with Haleon.
The sale of shares this week is part of Pfizer’s plan to gradually wind down its stake in Haleon. After the transaction, Pfizer has entered into a 60-day lock-up period during which it will not sell additional Haleon shares.
Advisors on the Deal
A consortium of financial advisers is overseeing the share sale. BofA Securities and Goldman Sachs International are acting as joint global coordinators and bookrunners for the offering. They are joined by Deutsche Numis, HSBC, and RBC Capital Markets as joint bookrunners, while Barclays, BNP Paribas, Mizuho, PNC Capital Markets LLC, and Siebert Williams Shank & Co. LLC are serving as co-managers.
