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S’pore TCM brand Eu Yan Sang to be acquired by Japan’s Mitsui, Rohto in an S$800M deal

April 6, 2024
in Lifestyle
Reading Time: 2 mins read
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Japan’s buying and selling and funding firm Mitsui & Co introduced yesterday (April 4) that they’ve joined arms with Rohto Pharmaceutical Co to purchase Eu Yan Sang Worldwide in a deal valuing the model at S$800 million (US$594 million).

In response to a press launch, Mitsui & Co acknowledged {that a} particular function firm collectively owned by Mitsui and Rohto would purchase round 86 per cent of Eu Yan Sang from funding agency Righteous Crane Holding.

The Japanese funding agency additionally added {that a} takeover bid for the remaining 14 per cent of the homegrown Conventional Chinese language Drugs (TCM) model will likely be made.

In a separate assertion issued yesterday, Righteous Crane Holding is owned by a fund managed by Tower Capital Asia, a unit of Temasek Holdings and founding members of the family of Eu Yan Sang, who may even reinvest partially into the Misui-Rohto particular function firm following the deal.

Of their assertion, Mitsui & Co shared that the acquisition is predicted to be accomplished by 30 June 2024. Deutsche Financial institution and UBS may even be performing as monetary advisers to Eu Yan Sang, with WongPartnership because the authorized counsel.

The acquisition goals to spur higher progress for Eu Yan Sang

Eu Yan Sang 1800s
Picture Credit score: Eu Yan Sang

Eu Yan Sang first opened as a medicinal corridor in 1879. Since then, it has grown to be a mainstay TCM model, working over 170 stores and 30 clinics in Singapore, Hong Kong, and Malaysia.

Previous to the announcement, Mitsui & Co. not directly invested in Eu Yan Sang in November 2022, which helped to extend the model’s worth and spur abroad enlargement.

By means of these actions, Mitsui reconfirmed EYS’s sturdy enterprise potential and the way Mitsui may contribute to its enterprise enlargement, which led to Mitsui’s resolution to re-invest in EYS with ROHTO and the founding household via the SPC.

Leveraging the competitiveness of EYS’ model and merchandise in Asia and ROHTO’s R&D and advertising and marketing capabilities, Mitsui will work to create an progressive new enterprise.

Mitsui & Co in a press launch dated 4 April 2024

Righteous Crane Holding took the corporate non-public after the model was delisted from the Singapore Inventory Change in 2016. The deal valued the model at about US$196 million on the time.

In January, Reuters reported that Mitsui and Hillhouse had emerged as the ultimate bidders for Eu Yan Sang for a deal valued at US$700 million, in accordance with sources.

Featured Picture Credit score: Eu Yan Sang

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Tags: acquiredacquistionBranddealeu yan sangJapansMitsuiRohtoS800MSangSporeTCMYan
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