RB outlines demerger plans
GLOBAL consumer health and hygiene company RB (formerly Reckitt Benckiser), which has a major operation in Hull, expects the demerger of its pharmaceuticals unit to complete next month.
RB, which recently announced a £100m investment in a new 13,000 sq ft Centre for Scientific Excellence in Hull, said it hopes to complete the demerger by December 23 after giving shareholders a chance to vote on the proposal at a general meeting on December 11.
The new demerged company, to be called Indivior, will be admitted to the premium listing segment of the Official List and traded on the London Stock Exchange’s main market.
Indivior shares are expected to start trading on December 23.
Indivior is a leading international addiction business with net revenues of $1.2bn and net income of $489m for the year ended December 31, 2013.
“The board of RB considers that the demerger is in the best interests of both RB and Indivior and will result in a stronger future for both RB and Indivior, with the boards of each company focused on developing their respective businesses into leaders in their specific sectors,” the company said.
“In particular, the board of RB considers that the profile and potential risks and rewards of Indivior, as a specialty pharmaceuticals company, will be better understood as a standalone listed business. RB will continue its focus as a consumer health and hygiene company.”
