Buy-back of GlaxoSmithKline K.K. shares owned by Sumitomo Chemical
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GlaxoSmithKline plc, GlaxoSmithKline K.K., and Sumitomo Chemical Co., Ltd., have reached an agreement whereby GlaxoSmithKline K.K. will buy all of its shares currently held by Sumitomo Chemical. The acquisition of shares will take place on 7 August. As a result of this transaction, GlaxoSmithKline K.K. will become a 100% owned subsidiary of the GlaxoSmithKline group.
Although the GlaxoSmithKline group and Sumitomo Chemical will no longer have a capital relationship, according to the companies, both the GlaxoSmithKline Group and the Sumitomo Chemical Group will continue to maintain and further develop the good relationship they have built over the course of many years.