27 May, 2014

SSEK has advised GlaxoSmithKline (GSK) on a three-part deal that sees the pharmaceutical company take full control of its Indonesian Consumer Healthcare business, while divesting a non-core brand and a manufacturing facility in the country.

GSK Consumer Healthcare paid 465bn Rp (USD 40.7m) to Sarasvati Venture Capital for the 30% of the Indonesian Consumer Healthcare business it did not previously own. GSK also divested its Insto™ eye drops brand to Pharma Healthcare and agreed to divest its manufacturing site at Bogor to PT Pharma Healthcare for a combined total of 133bn Rp (UD 11.7m). The Bogor manufacturing site will transfer to PT Pharma Healthcare in 2015.

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