Pfizer to sell entire Haleon stake
March 18 (Reuters) - Pfizer PFE.N will sell its remaining stake in British consumer healthcare group Haleon HLN.L, the companies said on Tuesday.
Pfizer will sell about 662 million ordinary shares, or 7.3%, of Haleon, created in a merger of GSK GSK.L and Pfizer's consumer healthcare businesses in 2019, and spun off in 2022.
Under the deal, the Sensodyne maker has agreed to buy back shares worth $220 million from Pfizer, currently its largest shareholder.
GSK, which initially owned nearly 13% of the firm, sold its entire stake in May 2024.
Following Pfizer's disposal, BlackRock Investment Management (UK) Ltd, a unit of BlackRock BLK.N, will become Haleon's largest shareholder with over a 5% stake, according to data compiled by LSEG.
Haleon in February said its 2025 revenue and profit growth weighted to the second half of the year.
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