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...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now