[13 September/Dairy Reporter]

Aspen Pharmacare Holdings Limited announced it would divest its global Nutritional Business to the Lactalis Group. Aspen’s Chief Executive, Stephen Saad, said they were pleased to announce an agreement had been signed off to sell the division for USD860 million. It was in line with its strategic intention to focus on its core pharmaceutical business. It previously announced it had undertaken strategic review of its Global Nutritionals Business. Lactalis’ strategic intent was to develop a global infant nutritional business to complement its existing product range. It said it was a compelling opportunity for both parties. There were a range of elements that would be a part of the transaction. The transaction was conditional on the fulfilment of a number of conditions.