(Reuters) -Pfizer will sell its remaining stake in British consumer healthcare group Haleon, the companies said on Tuesday.

Pfizer will sell about 662 million ordinary shares, or 7.3%, of Haleon, created in a merger of GSK and Pfizer’s consumer healthcare businesses in 2019, and spun off in 2022.

Under the deal, the Sensodyne maker has agreed to buy back shares worth $220 million from Pfizer, currently its largest shareholder.

GSK, which initially owned nearly 13% of the firm, sold its entire stake in May 2024.

Following Pfizer’s disposal, BlackRock Investment Management (UK) Ltd, a unit of BlackRock, will become Haleon’s largest shareholder with over a 5% stake, according to data compiled by LSEG.

Haleon in February said its 2025 revenue and profit growth weighted to the second half of the year.

(Reporting by Prerna Bedi in Bengaluru; Editing by Alan Barona)