Standard Bank advises Austell on acquisition of Ascendis Pharma
14 Oct 2022
Country
South Africa
Year
2022
Sector
Diversified Industries
Business Unit
Corporate and Investment Banking
Specific Role
Sole financial adviser and sole funder
Standard Bank is proud to have provided a ground-breaking R550m loan facility to Austell Pharmaceuticals, which enabled their successful acquisition of Ascendis Pharma for R432m. Acting as the sole financial adviser and sole funder for the transaction, we supported Austell, a 100% BEE-owned, proudly South African pharmaceuticals company, to significantly grow their product portfolios
The bank acted as sole financial adviser and sole funder to develop an innovative funding solution to Austell, which consists of a R550m loan facility, to enable Austell to refinance Ascendis’s R590m debt and enable the acquisition of Ascendis Pharma.
Investing in sustainable healthcare is crucial to improving the continent’s resilience to future pandemics, reducing health inequity, building local capacity for the development of medicines and consumables, and ensuring the wellbeing of African citizens.
Standard Bank is proud to support proudly South African companies such as Austell and strongly believes that investing in the healthcare sector has the potential to maximise local workforces and increase overall productivity. The bank also continues to actively facilitate the development of innovative funding and procurement models, and broader collaborations and partnerships across the continent, to improve the healthcare sector.