Hikma Confirms Non-binding Term Sheet To Acquire GSK's Certain Assets In Egypt, Tunisia

(RTTNews) - Hikma Pharmaceuticals PLC (HIK, HIK.L) confirmed Tuesday that it has entered into a non-binding term sheet with GlaxoSmithKline S.A.E. or GSK SAE, the Egyptian subsidiary of GlaxoSmithKline plc (GSK, GSK.L).

The term sheet is for potentially acquiring GSK's interests in certain entities that conduct, and certain assets comprising, GSK's pharmaceutical and consumer commercialisation and manufacturing business in Egypt and GSK's pharmaceutical business in Tunisia.

Hikma said it expects to conduct a due diligence exercise, the results of which will form the basis for further discussions with GSK in connection with the proposed deal.

The transaction is subject to a number of conditions, including the finalisation of definitive and legally binding documents and the completion of due diligence by Hikma.