JOHANNESBURG, Sept 11 (Reuters) - Aspen Pharmacare is in talks to sell its global infant formula business, it said on Tuesday, as the South African drug maker 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.
"Aspen is currently engaged in discussions regarding a possible divestment of its global infant nutritionals business," the firm said in a statement without providing more details.
The talks were first reported by Bloomberg, which identified French dairy group Lactalis as the other party to talks, and said the deal could be worth $1 billion, according to sources familiar with the matter.
Lactalis was not immediately available to comment.
The privately held group was at the center of a health crisis when a salmonella outbreak at a Lactalis milk factory last year led to dozens of babies falling ill.
Shares in Aspen, with operations in 50 countries, traded up after the announcement, rising 2.2 percent to 271.55 rand.
"It's going to inject some cash into the balance sheet," said Independent Securities trader Ryan Woods.
In January, Aspen said it would review the infant milk formula business with options including a sale to a strategic partner. The unit has factories in New Zealand, South Africa and Mexico.
Infant formula is seen as an attractive business, due to rising incomes in emerging markets and population growth. It is dominated by Nestle, Danone and Reckitt Benckiser, which acquired Mead Johnson of the United States last year. (Reporting by Tanisha Heiberg in Johannesburg, Martinne Geller in London and Gus Trompiz in Paris Editing by James Macharia, David Evans and Emelia Sithole-Matarise)
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JOHANNESBURG, Sept 11 (Reuters) – Aspen Pharmacare is in talks to sell its global infant formula business, it said on Tuesday, as the South African drug maker seeks to cash in on growing demand for baby milk.
The business sells infant milk formula in the Asia-Pacific, Sub-Saharan Africa...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves Online news HienaLouca
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