Drugs company Aspen Pharmacare said on Monday it had completed the divestment of its nutritionals business to the Lactalis Group for €740-million on May 31.
"The estimated net cash inflows from the transaction, after payment of transaction related taxes, the buy-out of minority shareholders and the payment of transaction costs, will be approximately €635-million and the financial effects remain in line with Aspen’s expectations.
It said the completion of this divestment and the divestment of a portfolio of products in Australia to Mylan, announced on May 20, were important steps towards achieving the deleveraging of its balance sheet.