Pfizer recently divested a portion of its investment in the consumer-healthcare company Haleon, cashing in approximately £2.75 billion ($3.50 billion). This strategic sale reduced Pfizer’s ownership in Haleon from 32% to 22.6%, involving the sale of 790.6 million Haleon shares at a price of 308 pence each. This pricing marked a 7% discount to Haleon’s closing price of 332.30 pence on the preceding Friday, totaling a sale value of £2.43 billion.
Initially, Haleon had disclosed plans for Pfizer to sell 630 million shares to decrease its stake to 24%. However, the final sale exceeded these expectations, further reducing Pfizer’s holding in the company.
In a related transaction, Haleon confirmed the off-market repurchase of 102.3 million of its shares from Pfizer, executed at the same price as the broader sale, amounting to approximately £315 million. This move reflects Haleon’s strategic efforts to manage its share capital post-Pfizer’s divestiture.