Aspen Pharmacare Holdings Ltd. (APNHY,APN.JO), on Monday announced that, through its wholly owned subsidiary Aspen Global Inc., it has entered into binding agreements to sell its equity interests and intellectual property assets in Australia, New Zealand and other Asia-Pacific markets excluding China to BGH Capital Pty Ltd via two special purpose vehicles.
The transaction carries an unadjusted value of AUD 2.37 billion, or ZAR 26.48 billion.
The transaction involves the sale of Aspen APAC operations in Australia, New Zealand, Hong Kong, Malaysia, Taiwan and the Philippines, including relevant intellectual property commercialised in the region.
On a cash- and debt-free basis, implies an enterprise value to normalised full year 2025 EBITDA multiple of about 11x.
Aspen said the APAC business was not actively being marketed for sale, but the boards evaluated an unsolicited proposal from BGH Capital and subsequently invited a binding offer.
Following a detailed assessment, the boards concluded that the transaction provides compelling value for shareholders.
The company said that the net proceeds are expected to be used primarily to reduce debt and optimise the group's capital structure, leading to lower financing costs, a simplified lender base, and increased focus on strategic growth priorities.
On Friday, Aspen Pharmacare 0.46% lesser at ZAc 9,450 on the Johannesburg Stock Exchange.
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