Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

SMITHKLINE BEECHAM TO PUT MOST OF $1 BIL. RETURN ON SALE OF STERLING's

This article was originally published in The Tan Sheet

Executive Summary

SMITHKLINE BEECHAM TO PUT MOST OF $1 BIL. RETURN ON SALE OF STERLING's North American OTC business to Bayer AG toward the reduction of debt incurred with the $2.93 bil. purchase of the Sterling Winthrop worldwide OTC business in August and the $2.3 bil. acquisition of Diversified Pharmaceutical Services in May. SmithKline's assumption of more than $5 bil. in debt during 1994 following the Sterling Winthrop acquisition from Kodak moved SB onto Standard & Poor's CreditWatch negative list for possible downgrading of its "AA-" long-term credit rating ("The Tan Sheet" Sept. 5, p. 7).
Advertisement

Topics

Advertisement
UsernamePublicRestriction

Register

PS083241

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel