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Health and wellness group Ascendis Health said on Thursday it will sell three businesses within its Biosciences division to a consortium for R480m as part of a strategic review.
Ascendis will sell the Efekto, Marltons and Afrikelp businesses to a consortium comprising of RMB Ventures, Nedbank Private Equity and certain members of the management of the Ascendis Biosciences division, it said.
“Following our strategic business review last year the Biosciences division was considered as noncore to the group’s strategy and was identified for sale,” CEO Thomas Thomsen said.
“While these Biosciences businesses are performing well, they serve a different set of customers and require capabilities and skills that are not core to Ascendis Health.”
Ascendis shares jumped nearly 8% after the announcement and closed up 1.58% at R4.50.
Efekto manufactures and sells home and garden pesticides, fertiliser and plant food products and Afrikelp specialises in natural growth stimulants extracted from s...
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