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BRIEF-Australian Pharmaceutical Industries enters agreement to sell shareholding in hospital supplies distribution business

Published 26/11/2015, 05:07 pm
© Reuters.  BRIEF-Australian Pharmaceutical Industries enters agreement to sell shareholding in hospital supplies distribution business
API
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Nov 26 (Reuters) - Australian Pharmaceutical Industries Ltd API.AX :

* Market update - sale of ch2 API.AX

* Has entered into an agreement to sell its shareholding in hospital supplies distribution business, ch2 holdings

* Says sale will complete in early December 2015

* Api and private equity firm Allegro Funds, will sell their shareholding to a private buyer

* Says sale will pay out the ch2 debt, providing a minimum of $4 million in cash to API

* Sale will mean that api books a loss on the sale of a maximum of $2.8 million after disposal costs

* Source text for Eikon ID:nASXLFyN4

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