GlaxoSmithKline Drops Iconic Brands for €1.2 Billion
GlaxoSmithKline's long-awaited sale of its Lucozade and Ribena drinks brands is edging towards resolution. Japan's Suntory Beverage and Food is on the brink of buying the brands for more than €1.2bn. GSK – one of the world's biggest drugmakers – announced plans in April to sell Lucozade and Ribena, which are big sellers in Ireland and Britain but weak in the emerging markets.
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