Japanese firms Mitsui & Rohto Pharma buy Singapore-based consumer healthcare brand for Yen 88 B
Singapore, April 8 -- Japan-based Mitsui & Co., has decided to acquire shares in Eu Yan Sang International (EYS) jointly with Rohto Pharmaceutical and others. Based in Singapore, EYS manufactures and sells traditional Chinese medicines.
A special purpose company (SPC), that is established in Singapore and will be jointly owned by Mitsui and Rohto, will acquire approximately 86% of the EYS shares from Righteous Crane Holding (RCH, Head Office: Singapore), pursuant to a conditional sale and purchase agreement (SPA). 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 SPC (as part of management retention arrangements...
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