Coast2Coast further offloads 11.5% stake in Ascendis Health

SOUTH AFRICA – Ascendis Health’s private-equity backer, Coast2Coast, has sold an additional 11.5% stake in the healthcare company effectively reducing its stake in Ascendis to just 14%. Coast2Coast through its subsidiary Gane Holdings, owned 25.5% of Ascendis in December 2018, and a year before, it held 30.9% of the company. The private equity group has been forced to offload large chunks of Ascendis shares in recent months to meet obligations to lenders, since the stock was used as collateral for loans, reports Business Day. This comes about a month after…

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