A South African company buys Scitec Nutrition

Polish Enterprise Fund VII (PEF VII), a private equity fund managed by Enterprise Investors, together with its minority co-investors have signed an agreement to sell a 100 percent stake in Scitec Nutrition, a leading European sports nutrition producer, to Ascendis Health, a South Africanhealth and care brands company.

The value of the transaction is EUR 170 million, of which EUR 150 million will be paid at closing and EUR 20 million a year later.

Completion of the deal is subject to obtaining relevant regulatory approvals, including Johannesburg Stock Exchange (JSE) approval and Ascendis shareholder approval at a general meeting of shareholders. (MTI)