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An Aspen Pharmacare logo is seen at outside company offices in Woodmead, Johannesburg, South Africa, September 13, 2018.
South African pharmaceutical group, Aspen, has agreed to sell its Asia Pacific operations to a private equity firm based in Melbourne, Australia, for approximately R26.5 billion.
The assets are sold following an unsolicited offer by BGH Capital, including Aspen’s operations in Australia, Hong Kong, Malaysia, Taiwan, the Philippines and excluding China.
The announcement made on Monday triggered Aspen’s biggest one-day share price gain in roughly 25 years with the stock jumping about 24% on the JSE.
The unsolicited offer values the business at roughly $1.6 billion with assets accounting for around a quarter of the group’s EBITDA in the last financial year.
The transaction is expected to close by mid-2026 subject to regulatory and shareholder approvals.
