South Africa: Ascendis in negotiations with PE firms for Animal Health unit
Johannesburg Stock Exchange-listed Ascendis Health has announced that negotiations are at an advanced stage to sell its Animal Health business to a consortium comprising Amethis Fund II and Phatisa Food Fund 2. At this stage, it is expected that the gross consideration in respect of the Animal Health disposal, if consummated, will be in the range of R740 million (about $52 million) to R790 million (about $55.5 million).
Ascendis Animal Health’s companion animal products focus on common treatment areas for both dogs and cats, such as flea and tick control, de-worming, joint care, skincare, and management of anxiety and stress. In addition, the company also has a range of equine products. All products are available throughout South Africa and Namibia.
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