GSK Completes Stiefel Labs Purchase
GlaxoSmithKline has completed its acquisition on Stiefel Laboratories Inc., a Coral Gables, Fla.-based skincare pharmaceutical company that had been partially owned by The Blackstone Group. The $3.6 billion acquisition included $2.9 billion in cash, up to $300 million in cash earn-out payments and the assumption of $400 million in net debt. Blackstone had acquired an 18% stake for $484 million in August 2007.
23 July 2009•2 mins read
