Sale of Aspen’s infant milk business to go through on Friday

Pharmaceutical manufacturer Aspen Pharmacare has confirmed that the sale of its infant milk business to French dairy company Lactalis will go through on May 31, injecting €740m into the debt-laden company.

Aspen’s stock rallied as much as 6.7% to R98.88 after the company’s announcement on the JSE’s news service at 9am, before falling back to trade at R93 at about 2pm. Aspen announced the Lactalis deal in September 2018, disappointing investors who had hoped it would get a higher price for the infant milk unit. That news, combined with a dismal 3% growth in group revenue for the year to June, knocked Aspen’s shares to their worst intraday fall in two decades, wiping as much as 26% off its price before it recovered slightly.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Change for climate a risky business | Business | M&G🔒 Science is giving us less and less time to get our climate act together while observable weather patterns, whether it is drought in the Western Cape or cyclones in Mozambique, tell us that climate breakdown is already here. It's the very thing the industry needs. If Durban floods and what has happened to Mozambique and Zim is anything to go buy taxation is the cheapest for of punishment we need for atonement. As long as we use the Canadian solutions
Source: mailandguardian - 🏆 2. / 92 Read more »

Attend a Business Day Dialogue on mastering your business futurePresented in partnership with IBM, this event is aimed at helping you establish a competitive advantage
Source: BDliveSA - 🏆 12. / 63 Read more »