Darya to sell unit to Swiss firm

Darya to sell unit to Swiss firm

JAKARTA: PT Darya-Varia Laboratoria of Indonesia said Thursday its shareholders approved the sale of a 70 percent stake in unit PT Wigo Distribution Farmasi to Switzerland's Zuellig Pharma Holdings Ltd. for $6.3 million.

Darya, a pharmaceutical concern, said the proceeds from the sale will be used to repay part of a $11 million debt.

The company said after the sale it will have a 30 percent stake in Wigo. -- Dow Jones