Ontex Group, a leading international provider of personal hygiene solutions, has announced the signing of a binding agreement to sell its businesses in Pakistan to ASAIA Holding FZ. This transaction includes Ontex’s factory and businesses in Pakistan.
Ontex’s businesses in Pakistan are part of the company’s activities in emerging markets, which have been classified as discontinued operations following the strategic decision made in 2021 to divest from them. Ontex intends to complete the transaction, subject to customary conditions, by the end of 2023.
It’s worth noting that in August of this year, Ontex announced the sale of its businesses in Algeria to Hygianis SPA, its local distributor for over 20 years. The transaction includes the company’s operations in Algeria and exports to some neighboring countries.
Last year, the Ontex Group signed a binding agreement to sell its Mexican commercial activities for approximately €285 million to Softys S.A., a manufacturer of personal hygiene products with operations throughout Latin America and a subsidiary of the Chilean CMPC.