Takeda to sell Japanese consumer health unit to Blackstone for $2.3b

FILE PHOTO: Takeda Pharmaceutical Co's logo is seen at its new headquarters in Tokyo, Japan, July 2, 2018. REUTERS/Kim Kyung-Hoon - RC1702FA7D40/File Photo

Takeda Pharmaceutical Co said on Monday it has agreed to sell its Japanese consumer healthcare business to U.S. investment fund Blackstone Group .

Takeda Consumer Healthcare Company, which makes over-the-counter (OTC) drugs and health products, is valued at 242 billion yen ($2.29 billion) and the sale price will be determined after calculating its debt and other factors, Takeda said.

Japan’s largest pharmaceuticals company has been reducing its OTC assets worldwide as it seeks to refocus its business and reduce debt following its $59 billion acquisition of Shire.

Blackstone was among the final bidders for the OTC unit, Reuters reported in June, along with Bain Capital, CVC Capital Partners and Taisho Pharmaceutical Holdings Co Ltd.

Takeda said proceeds from the sale would boost its net profit by 105 billion yen. The transaction is expected close by March 31, subject to regulatory closing conditions, it said.

The deal follows Blackstone’s acquisition of Japan’s Ayumi Pharmaceutical Corp for $1 billion in March 2019.

Reuters

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.