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Jefferies has been hired to work on the proposed spin-off of Reckitt Benckiser's pharmaceutical business –  a potentially rare multi-billion-dollar mandate for the bank in Europe.

UK-based Reckitt Benckiser - which produces brands such as Clearasil spot cream, Durex condoms and French's mustard - is expected to spin-off its RB Pharmaceuticals arm next month, according to a statement. The division will be renamed Indivior and is expected to start trading in London on December 23.

Jefferies joins brokers on Reckitt pharma float

Appointment could mean a potentially rare multi-billion-dollar mandate for the bank in Europe

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