Private equity giant KKR to buy Japan’s Bushu Pharmaceuticals
Dec 20 (Reuters) – Private equity giant KKR & Co Inc (KKR.N) said on Tuesday it will buy Japanese drug developer Bushu Pharmaceuticals from Hong Kong-based private equity firm BPEA EQT, but did not disclose financial details of the deal.
A Bloomberg report from August stated a transaction may value Bushu Pharma at upwards of 100 billion yen ($749 million), citing people familiar with the matter.
None of the parties involved in the transaction immediately responded to a Reuters request for confirmation on deal value.
KKR said in a press statement it aims to expand Bushu Pharma into new as well as growth segments such as injectables, invest in further capacity expansion and quality control, and seek further growth opportunities.
The investment firm said it sees significant demand for strategic and reliable solutions to address challenges facing the healthcare industry, and aims to push the Japanese firm to further scale its business.
Bushu Pharma, established in 1998, is one of the leading manufacturers of pharmaceutical and medical devices in Japan, according to its website.
($1 = 133.6000 yen)
Reporting by Sameer Manekar in Bengaluru; Editing by Janane Venkatraman and Saumyadeb Chakrabarty