South Africa’s largest pharmaceutical producer, Aspen Pharmacare, has announced it will sell its Australia, New Zealand and Asia Pacific assets, excluding China, to Australian private equity firm BGH Capital for R26.51bn, reports Daily Investor.
Although the company had no plans to sell those assets, it had agreed to do so after it evaluated an unsolicited offer from BGH Capital, it said.
The deal, which includes divestment of Aspen’s first venture outside South Africa, in Australia and New Zealand, will help the company reduce its debt and streamline focus on producing GLP-1 drugs and bolster turnaround efforts.
In September, the firm reported an annual loss of R1.1bn, citing hefty asset impairments amid contractual disputes over mRNA products.
Daily Investor article – South African pharma giant seals R26.51bn deal (Open access)
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