Debt-ravaged health group Ascendis has struck a deal with lenders that involves it exchanging its European businesses to extinguish about €447m (R7.6bn) in debt, leaving the company with assets only in SA.

After mulling numerous options, including delisting, selling businesses “with a fire sale sign above the door”, or a rights issue, Ascendis believes its restructuring deal is by far the best option, CEO Mark Sardi said on Wednesday...

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