BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Mitsui & Co., Ltd. has decided to acquire shares in Eu Yan Sang International Ltd jointly with ROHTO Pharmaceutical Co. Based in Singapore, EYS manufactures and sells traditional Chinese medicines. The acquisition of 100% of EYS shares is valued at approximately 88 billion yen.
A special purpose company, jointly owned by Mitsui and Rohto, will acquire approximately 86% of the EYS shares from Righteous Crane Holding, pursuant to a conditional sale and purchase agreement. Upon fulfillment of the condition in the SPA, a takeover bid for the remaining 14% of EYS shares will be executed and the founding family of EYS will reinvest partially into the special purpose company. Mitsui will acquire shares worth an estimated 15 billion yen on a net basis, excluding the proceeds from the RCH's sale of the EYS shares.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
