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Sigma Pharma To Sell Pharmaceuticals Division To Aspen For A$900 Mln - Quick Facts
August 16, 2010, Monday, 09:44 GMT | 04:44 EST | 14:14 IST | 16:44 SGT
(RTTNews) - Sigma Pharmaceuticals Ltd (SGMFF.PK) announced that it has agreed to sell its Pharmaceuticals Division to Aspen Pharmacare Holdings Limited (APNHF.PK, APNHY.PK) group of companies for A$900 million.
Under proposed terms, Sigma will accept non-compete with Pharmaceuticals Division for two years. Under terms, Sigma will retain its Healthcare Division, which includes the Wholesale and Retail businesses.
The anticipated proceeds from the transaction exceed Sigma's net debt, including securitised debt. If the transaction doesn't proceed for reasons relating to Sigma, Aspen will be entitled to a break fee of 0.5% of the purchase price.
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