London and New York-listed Sensodyne maker Haleon agreed to acquire an additional 33% equity interest in Tianjin TSKF Pharmaceutical from joint venture partners Tianjin Pharmaceutical Group and Tianjin Pharmaceutical Da Ren Tang Group (SHA:600329, SGX:T14).
Total consideration for the stake acquisition is 4.47 billion yuan, according to a Sept. 27 press release.
The deal will increase Haleon's equity interest in Tianjin TSKF Pharmaceutical to 88% from 55%.
Also, Haleon secured an option to acquire Tianjin Pharmaceutical Da Ren Tang Group's remaining 12% shareholding in Tianjin TSKF Pharmaceutical.
Tianjin TSKF Pharmaceutical manufactures and distributes brands such as Fenbid, Voltaren and Bactroban.
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