Reckitt Benckiser and Perrigo interested in Aspen formula unit, sources says
Aspen Pharmacare’s infant formula business has drawn interest from companies including Reckitt Benckiser and Perrigo, as the largest African drug maker evaluates options for the business, people familiar with the matter said. Family-owned French dairy group Lactalis and Australia’s iNova Pharmaceuticals, controlled by Pacific Equity Partners and Carlyle Group, are also weighing offers for a stake in the business, according to the people. The unit could fetch a valuation of about $1bn-$1.5bn in a potential sale, the people said, asking not to be identified because the deliberations were private. Aspen shares soared the most in two months, trading 3.6% higher on the JSE at R262.49 as of 2.03pm. Aspen said in January it was considering whether to bring in a partner for its infant-milk formula business after receiving an offer in 2017. It said at the time it had hired Centerview Partners as a financial adviser for the review. Aspen has also sent preliminary information on the business t...
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