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GSK hires three banks to advise on potential ViiV IPO -sources

Reuters - UK Focus

LONDON, Feb 4 (Reuters) - GlaxoSmithKline (Other OTC: GLAXF - news) has hired Citi, Goldman Sachs (NYSE: GS-PB - news) and Morgan Stanley (Xetra: 885836 - news) as financial advisers on its ViiV Healthcare unit as the drugmaker explores a partial initial public offering (IPO) of its HIV medicines unit, sources familiar with the matter said.

Britain's biggest drugmaker, which is due to release full-years results at 1200 GMT, declined to comment on the news on Wednesday.

GSK first announced in October it was looking to float its fast-growing HIV drugs operation business as part of a plan to reshape its business, in what would be the drug industry's largest ever IPO.

The British group has a stake of nearly 80 percent in ViiV Healthcare, with Pfizer (NYSE: PFE - news) and Shionogi holding the rest.

The appointment of the three banks was first reported by Sky (LSE: SKY.L - news) News.

(Reporting by Ben Hirschler; Editing by Martinne Geller)