September 13, 2018 / 5:45 AM / 7 days ago

South Africa's Aspen to sell infant formula unit to Lactalis for $864 mln

JOHANNESBURG, Sept 13 (Reuters) - Aspen Pharmacare, Africa’s biggest generic drugmaker, said on Thursday it will sell its global infant formula business to French dairy group Lactalis for 12.9 billion rand ($864.46 million), as it seeks to cash in on growing demand for baby milk.

The business sells infant milk formula in the Asia-Pacific, Sub-Saharan Africa and Latin America, and has a growing presence in the Middle East and China. ($1 = 14.9226 rand) (Reporting by Nqobile Dludla)

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