Johnson & Johnson fully divests remaining Kenvue stake via debt-for-equity exchange

JOHNSON & JOHNSON

On May 17, 2024, JNJ exchanged its remaining 182.3M Kenvue shares for $3.6B commercial paper, eliminating its Kenvue ownership.
JNJ issued $3.6B commercial paper on May 15, 2024 for general corporate purposes, then used it to complete the exchange.
This completes the separation of Consumer Health business announced in Nov 2021; JNJ no longer holds any Kenvue shares.
The commercial paper was satisfied and discharged upon completion of the exchange.

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