PARIS (Reuters) - Privately held French dairy group Lactalis said on Thursday its takeover of Aspen’s (APNJ.J) global infant formula business would boost its presence in Latin America, Africa, Australia and Asia.
Aspen said earlier on Thursday that it was selling the business to Lactalis for 12.9 billion rand ($864.5 million).
Lactalis said the acquisition should take effect during the first quarter of 2019, following approval from regulatory authorities.
Lactalis 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.
Reporting by Sudip Kar-Gupta; editing by Jason Neely