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Brazil's Hypermarcas sells contraception unit to RB for 675 mln reais

Reuters - UK Focus

RIO DE JANEIRO, Jan 29 (Reuters) - Hypermarcas SA (Sao Paolo: R2:HYPE3S.SA - news) , the largest Brazilian producer of personal care goods, said on Friday its board has agreed to the sale of its contraception division to Britain's Reckitt Benckiser (Xetra: A0M1W6 - news) for 675 million reais ($169 million).

Twenty percent of the money will be paid in a first installment when the deal is signed, with the rest to be transferred once all conditions of the sale have been completed and the deal has closed.

($1 = 3.998 reais) (Reporting by Alberto Alerigi; Editing by Leslie Adler)