API (ASX:API) sells shares in Sigma Healthcare

Company News

by Anna Napoli

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$1.343 -$0.004 -0.26%
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Last Updated: 21/01/2020 2:27 PM

Australian Pharmaceutical Industries (ASX:API) has sold all of its shares in Sigma Healthcare.

API has sold 137,264,592 Sigma shares. Following the transaction API holds no shares in Sigma.

API’s Chairman, Mark Smith says the Board has decided to sell its Sigma shareholding now because the strategic and commercial fundamentals that made the merger a compelling proposition for both sets of shareholders have significantly diminished.

Australian Pharmaceutical Industries says selling it's Sigma shares will allow it to further accelerate its focus on its portfolio of businesses.

Shares in Australian Pharmaceutical Industries (ASX:API) are trading 0.39 per cent higher at $1.29.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.