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Ascendis concludes 100% acquisition of Cipla

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Cape Town - Ascendis [JSE:ASC] has announced on Tuesday the successful completion of a 100% acquisition of Cipla Agrimed SA and Cipla Vet SA.

The value of the agreement is R375m with a potential adjustment to between of R250m and R500m in relation to actual working capital, according to a statement.

Cipla Vet operates in the companion animal segment with sales to over 1 000 outlets and has a strong presence in the South African market, while Cipla Agrimed operates in the commercial animals segment and exports into sub-Saharan Africa.

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