Reckitt Benckiser Group is a manufacturer and marketer of branded products in household, health and personal care products, sold into nearly 200 countries from operations in over 60 countries. I have a holding in my income portfolio (epic code: RB.)
Reckitt Benckiser announced today the new name of Indivior PLC for the pharmaceutical company to be demerged from the Group. As expected it will be UK domiciled and listed on the London Stock Exchange.
The General Meeting to approve the demerger will be held on 11 December 2014, with completion set for 23 December.
Shareholders will receive one Indivior ordinary share for each RB ordinary share held.
The circular to shareholders will be distributed today, that should include particulars as to price and yield for Indivior. There may also be some indication of any effect on the core Reckitt Benckiser from the demerger, given the highly cash generative nature of Indivior.