May 2, 2019 / 2:37 PM / a year ago

South Africa's Ascendis sells Bioscience business for $33 mln

JOHANNESBURG, May 2 (Reuters) - South African Health and wellness group Ascendis Health said on Thursday it will sell three businesses within its Biosciences division to a consortium for 480 million rand ($33 million) as part of a strategic review.

Ascendis will sell the Efekto, Marltons and Afrikelp businesses to a consortium comprising of RMB Ventures, Nedbank Private Equity and certain members of the management of the Ascendis Biosciences division, it said in a statement.

“Following our strategic business review last year the Biosciences division was considered as non-core to the group’s strategy and was identified for sale,” Chief Executive Thomas Thomsen said.

“While these Biosciences businesses are performing well, they serve a different set of customers and require capabilities and skills that are not core to Ascendis Health.” ($1 = 14.5125 rand) (Reporting by Nqobile Dludla; Editing by Alexander Smith)

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