UPDATE 1-Brazil's Hypermarcas to sell diaper unit to Ontex, source says

SAO PAULO, Dec 22 (Reuters) - Hypermarcas SA,

Brazil's most diversified pharmaceutical firm, has agreed to

sell a diaper business to Belgium's Ontex Group NV

for about 1 billion reais ($300 million) in cash, a person with

knowledge of the transaction said on Wednesday.

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