"The disposal is in line with the objectives of the group recapitalisation. The company took the strategic decision to dispose of Animal Health due to the business being non-core to the company's long-term strategy," the group said. "The disposal is subject to the approval of the disposal and release of security by the Ascendis Health lender group as required under Ascendis Health's senior facilities agreement having been given and the approval of relevant competition authorities in relation to the disposal having been obtained," the group said. In mid-May the group reached an agreement with its lenders for the restructuring and recapitalisation agreement with its creditors Blantyre Capital and L1 Health for the settlement of its outstanding debt of €447m (about R7.7 billion).