Zhitong Finance APP was informed that informed sources revealed that private equity companies have a crush on GSK. US) is poised to spin off the consumer healthcare business.
People familiar with the matter said that in preparation for the listing, GlaxoSmithKline's consultants also informally expressed interest in the above business. Companies such as Advent International, Blackstone, Carlyle, CVC Capital Partners, KKR & Co. and Permira are all potential buyers of the business, people familiar with the matter said.
The consumer healthcare business could also attract some of the world's largest pharmaceutical and consumer goods companies, people familiar with the matter said. Regardless of who the buyer is, the business could be valued at £40 billion ($54 billion) or more, while GlaxoSmithKline had a total market capitalization of about $96.2 billion as of Tuesday's close, people familiar with the matter said.
According to media reports in June, GlaxoSmithKline is working with Goldman Sachs Group (GS. US) and Citigroup (C.US) are working together to prepare to list the business separately.
According to data compiled by the media, the sale of GlaxoSmithKline's consumer healthcare business may become one of the world's largest acquisitions this year. Given the size of the potential deal, acquiring companies could eventually join forces to make acquisitions and attract sovereign wealth funds or pension fund managers to get more money, people familiar with the matter said.
By reaching out to potential buyers, GlaxoSmithKline can learn whether it is going public or selling outright to get a higher valuation. Attracting buyer interest without launching a formal auction process can also help the company avoid the pressure to sell when buyers offer an unattractive price.
People familiar with the matter pointed out that the discussion is ongoing and it is uncertain whether the transaction will be facilitated. Spokesmen for Blackstone, Carlyle, KKR and Permira all declined to comment. Representatives of GlaxoSmithKline, Advent and CVC did not immediately respond to requests for comment.
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