Ascendis to sell Scitec for a paltry R100m
The sale price is 30 times less than Ascendis paid for Scitec in 2016
16 April 2020 - 11:53
Debt-laden Ascendis Health is set to sell its Hungary-based sports nutrition business Scitec for about 30 times less than it paid for it in 2016.
Ascendis will sell Scitec for €5m (R100m), having spent €170m acquiring it, but the group has said that the business has underperformed as increasing competition forced it to discount heavily...
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