Paris—Dentons advised Lactalis, the French multinational dairy corporation, on the acquisition of the global infant nutrition business of South African pharmaceutical group Aspen Pharmacare. The value of the transaction was €739.8 million.

Aspen Pharmacare has three production sites for its infant nutrition division in South Africa, New Zealand and Mexico. On sale since the beginning of the year, the division had attracted the interest of more than 50 buyers, Aspen said.

"The group is thus pursuing its development objectives in line with its strategy of covering all sectors of the dairy industry in the countries where it operates," said Lactalis.

This transaction, one of the most important global deals in recent months, involved more than 20 countries.  It was led by Jean-Marc Grosperrin (Dentons Paris) and François Chateau (Dentons New York) and a Core Team: Tanit Gendre, Emmanuelle Van den Broucke, Romain Picard and Hugo Casasnovas. Dentons London (Neil Nicholson, Nigel Webber and Christopher Winn) was also very involved. The Core Team coordinated the entire acquisition worldwide.

The transaction would be completed in the first quarter of 2019 subject to the approval of the competition authorities of the various countries concerned and other conditions precedent.

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