Brazilian Hygiene Company Purchases Matecorp

Posted on December 20, 2010 • Filed under: Brazil, Business

Hypermarcas, the largest Brazilian maker of personal hygiene products, said it would buy pharmaceutical company Mantecorp for 2.5 billion reais ($1.5 billion), a deal that will make it the country’s second-largest drugmaker.

The Sao Paulo-based company said in a regulatory filing late on Sunday that 600 million reais would be paid in cash and the rest would be paid through the issuance of 78 million Hypermarcas shares, worth about 1.9 billion reais at Friday’s closing price. Read Article

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