GSK to dispose of Lucozade and Ribena

(Source: Getty)

Healthcare giant GlaxoSmithKline (GSK) has announced that it will sell its Lucozade and Ribena drinks brands. The products no longer fit within GSK's portfolio as it continues to work on health operations in emerging markets. Analysts speculate that the sale could raise more than £1bn. Shares in GSK are down 0.39 per cent for the day on the news.

Japan's Suntory Holdings has been tipped as a possible buyer after purchasing similar brands Orangina Schweppes and Funcor Group. Suntory declined to comment on news of a potential bid saying that:

We don't acknowledge this report as factual.