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25-Sep2017

GlaxoSmithKline Pharmaceuticals to sell Thane land for Rs 555 crore

GlaxoSmithKline Pharmaceuticals has received an approval for sale of its land admeasuring approximately 60 acres located at Thane, Maharashtra to Oberoi Realty for a consideration of Rs 555 crore. The board of directors at its meeting held on September 22, 2017 has approved for the same.

The proposed sale of land is subject to receipt of all statutory and regulatory approvals from the concerned authorities and signing of the definitive documents between the company and Oberoi Realty in this regard.

GlaxoSmithKline Pharmaceuticals is a subsidiary of GlaxoSmithKline plc, one of the world's leading research-based pharmaceutical and healthcare companies, committed to improving the quality of human life by enabling people to do more, feel better and live longer.




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