Sigma will retain its healthcare and wholesale businesses and receive proceeds that exceed its net debt. South Africa-based Aspen had proposed to buy the whole business but revised its offer because it lacks past experience in the wholesaling business.
Recognising this, and the skills Sigma possesses, the pharma business will enter into a long-term supply, distribution and logistics agreement with Sigma.
For Aspen the deal strengthens its position in the Australian generics and over-the-counter (OTC) sectors. This will provide the platform for further development of its business in Asia Pacific.