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ASPEN PHARMACARE HOLDINGS LIMITED - Completion of divestment of Aspens Japanese operations to Sandoz

Release Date: 31/01/2020 08:33
Code(s): APN     PDF:  
 
Wrap Text
Completion of divestment of Aspen’s Japanese operations to Sandoz

ASPEN PHARMACARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa) (“Aspen Holdings”)
Registration number: 1985/002935/06
Share code: APN
ISIN: ZAE000066692
LEI: 635400ZYSN1IRD5QWQ94
and its subsidiaries (collectively “Aspen” or “the Group”)



COMPLETION OF DIVESTMENT OF ASPEN’S JAPANESE OPERATIONS TO SANDOZ

Shareholders are referred to the announcement of 11 November 2019 wherein it was confirmed that
Aspen Global Incorporated, a wholly owned Aspen subsidiary incorporated in Mauritius, had concluded an
agreement to divest of its Japanese operations and any related intellectual property to Sandoz, a Novartis
Division (the “Transaction”).

Aspen is pleased to confirm that the Transaction has closed today. The initial estimated net cash inflows
from the Transaction, prior to receipt of any of the further possible milestone payments, after payment of
transaction related taxes and the payment of transaction costs, will be approximately EUR270.3 million (or
ZAR4.4 billion, based on a conversion rate of EUR/ZAR 16.26) and the financial effects remain in line with
Aspen’s expectations.

Completion of this divestment represents an important step in creating a more focused business in markets
with sufficient scale which aligns with Aspen’s business strategy.



Durban
31 January 2020

Sponsor
Investec Bank Limited

Date: 31-01-2020 08:33:00
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