Smith & 甥's £235m sell-off

By Fiona Walsh
Updated: 00:00 BST, 28 June 2000

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Healthcare and 医療の 製品s group Smith & 甥 is selling off its Elastoplast and Lil-lets 消費者 製品s 操作／手術s for a total of £235m and says it will return £415m to its 株主s through a special （株主への）配当.

The 処分s 示す the 変形 of the group into a hi-tech, high-growth 医療の 装置s company and is the culmination of an 18-month 再編成 programme under 長，指導者 (n)役員／(a)執行力のある Chris O'Donnell. 同様に as the 処分s, the group 明らかにする／漏らすd it is in '前進するd 交渉' with the 負傷させる-care 商売／仕事 of Germany's Beiersdorf and in 共同の 投機・賭ける 会談 with the group over 連合させるing 伝統的な 負傷させる-care and 包帯ing 操作／手術s.

Smith & 甥's feminine hygiene and toiletries 分割 is 存在 bought out by its 管理／経営 team, 支援するd by ABN Amro 資本／首都, for £140m in cash. Its brand 指名するs 含む Lil-lets and the Simple toiletries 範囲 and the 商売／仕事 had a turnover of £89m in 1999, producing operating 利益（をあげる）s of £18m. It has factories in Birmingham and Corby and the new company is to be called Accantia Health & Beauty. Beiersdorf is also to buy S&N's Elastoplast first 援助（する） dressings 商売／仕事 for £80m.

O'Donnell said: 'These are 重要な steps in the 根底となる reshaping of our 商売／仕事. The 目的（とする） is for Smith & 甥 to 焦点（を合わせる） on faster-growing and technologically 前進するd 製品s in the 医療の 装置 areas of orthopaedics, endoscopy and 負傷させる 管理／経営. These are areas of かなりの 可能性のある and growth.'

The Elastoplast 分割 含むs 配当 of the Nivea 範囲, which is made by Beiersdorf, in Britain and the 連邦／共和国. S&N's 配当 協定 was 予定 for 再開 in most markets at the end of next year. The Elastoplast first 援助（する） dressings 商売／仕事 had a turnover of £32m in 1999 and Nivea 配当 had sales of £67m. The 商売／仕事s, which 雇う a total of 240 people, made a 連合させるd 利益（をあげる） of just £9m last year.

On the 共同の 投機・賭ける with Beiersdorf, O'Donnell said each group 計画（する）s to 注入する £150m into the 投機・賭ける, which will 伴う／関わる their '円熟した' 負傷させる-care 操作／手術s, such as 伝統的な 包帯s and compression hosiery. The combination of the two should bring 重要な rationalisation 利益s, he said.

The 前進するd woundcare 味方する likely t o be sold to S&N has sales of £33m last year. The special （株主への）配当 will be 価値（がある） 37.14p. S&N 株 追加するd 7 3/4p to 214p.