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ASPEN PHARMACARE HOLDINGS LIMITED - Competition Tribunal approval

Release Date: 20/12/2013 09:00
Code(s): APN     PDF:  
Wrap Text
Competition Tribunal approval

ASPEN PHARMACARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1985/0002935/06
Share code: APN
ISIN: ZAE000066692
("Aspen Holdings" or "the Company")


COMPETITION TRIBUNAL APPROVAL OF ASPEN’S ACQUISITION OF
INFANT NUTRITIONAL (“IN”) BUSINESSES FROM NESTLÉ

Shareholders of Aspen Holdings are referred to the
announcement to shareholders dated 18 April 2013 wherein
it was announced that Aspen Group companies (“Aspen”) had
concluded agreements with Nestlé S.A. in respect of the
acquisition of certain rights to intellectual property
licenses, net assets and shares in the IN businesses
conducted by Pfizer which distribute a portfolio of IN
products in Australia (the “Australian IN business”) and
certain Southern African territories (South Africa,
Botswana, Namibia, Lesotho, Swaziland and Zambia)(the
“Southern African IN business”) for a total purchase
consideration of USD 215 million. As announced on 18
April 2013, the Australian competition authorities had
approved Aspen’s acquisition of the Australian IN
business   and  the   transaction  became   effective  in
Australia from 28 April 2013. Approval of the South
African competition authorities was pending at the date
of that announcement.

Aspen is pleased to announce that the South African
Competition Tribunal has, in a ruling made yesterday,
confirmed its approval of Aspen’s acquisition of the
Southern   African  IN  business.This was the  only
outstanding condition precedent in respect of the
finalisation of the acquisition of this business and the
transaction is expected to be completed on 27 January
2014.


Durban
20 December 2013

Investec Bank Limited
Sponsor

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