(RTTNews) - Japan's Takeda Pharmaceutical Co. Ltd. (TAK, TKPYY.PK) announced Monday that it has agreed to divest its unit Takeda Consumer Healthcare Co. Ltd. or TCHC to Blackstone Group Inc. (BX) for a total value of 242.0 billion Japanese yen.
Takeda's consumer health care business primarily in Japan will be bought by Oscar A-Co KK, a company controlled by funds managed by Blackstone.
The transaction is expected to close by March 31, 2021, subject to customary legal and regulatory closing conditions.
The portfolio in the planned sale includes a variety of over-the-counter or OTC medicines and health products that generated total revenues of over 60 billion yen in fiscal year 2019.
Takeda started TCHC as a separate business in April 2017 to further develop the consumer health care business in Japan. The company is now focused on highly innovative medicines across its five key business areas.
So far in 2020, Takeda has also agreed to divest three different non-core asset portfolios in the Asia Pacific, Europe, and Latin America regions.
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