December 22, 2016 / 1:37 AM / 2 years ago

Brazil's Hypermarcas to sell diaper unit to Ontex -source

SAO PAULO, Dec 21 (Reuters) - Hypermarcas SA, Brazil’s most diversified pharmaceutical firm, has agreed to sell a diaper business to Belgium’s Ontex Group NV for about 1 billion reais ($300 million) in cash, a person with knowledge of the transaction said on Wednesday.

According to the person, who requested anonymity because terms of the deal remain private, the sale could be announced as early as Thursday.

A public relations executive working for São Paulo-based Hypermarcas did not have an immediate comment. An email sent to an Ontex’s press officer after working hours was not immediately answered.

$1 = 3.3265 reais Reporting by Guillermo Parra-Bernal; Editing by Sandra Maler

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