GSK’s £40 Billion Consumer Arm Picks Citi, UBS as Brokers (1)

GSK Plc’s consumer health arm has picked corporate brokers ahead of its planned spinoff on the London Stock Exchange, people with knowledge of the matter said.

Haleon Plc has chosen Citigroup Inc. and UBS Group AG as its brokers, who will be go-to advisers on everything from strategy to shareholder engagement, the people said. The banks were selected following a beauty parade several weeks ago, the people said, asking not to be identified because the information is private.

The planned listing could value Haleon at around £40 billion ($49 billion), according to the people. Citigroup, which is already a ...