December 18, 2017 / 9:21 AM / 6 months ago

BRIEF-GlaxoSmithkLine Acquires Further 26 Pct Stake In Glaxo Saudi Arabia

Dec 18 (Reuters) - GLAXOSMITHKLINE:

* ACQUIRES ADDITIONAL 26 PERCENT STAKE IN GLAXO SAUDI ARABIA LIMITED‍​

* INTENDS TO EXPAND PRODUCTION OF JEDDAH MANUFACTURE SITE BY 30 PERCENT IN NEXT 3 YEARS WITH MORE INVESTMENTS TO BE DONE BY 2020‍​

* SAYS “ACQUISITION IS COMING ON TOP OF MORE THAN SAR 900 MILLION THAT GSK IS INVESTING IN ITS OPERATION IN SAUDI OVER NEXT 3 YEARS‍​”

* SAYS “BY INCREASING STAKE IN GSAL, GSK REITERATES COMMITMENT TO SUPPORT SAUDI GOVERNMENT PLANS TO DIVERSIFY ECONOMY ‍” Further company coverage:

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