AALST - Ontex Group, the developer and manufacturer of hygiene products and solutions for retailers and healthcare, has entered into a binding agreement to sell its business in Pakistan to ASAIA Holding FZ.
The transaction includes Ontex’s plant and business in Pakistan.
The business in Pakistan is part of Ontex’s emerging markets activities, which have been classified as discontinued operations following the strategic decision in 2021 to divest these.
Ontex aims to close the transaction, which is subject to customary conditions, by the end of 2023.
The sale of the business in Pakistan follows the divestments earlier this year of Ontex's operations in Mexico and Algeria.
