Singapore-based traditional Chinese medicine (TCM) company Eu Yan Sang International will be acquired by Japan's Mitsui and Rohto Pharmaceutical in a deal valued at S$800 million.
One of Singapore's oldest homegrown brands Eu Yan Sang will be acquired by Japan's Rohto Pharmaceutical and Mitsui & Co. The deal for the 144-year-old Traditional Chinese Medicine firm is valued at $800 million. Eu Yan Sang operates over 170 retail outlets and 30 TCM clinics, mainly in Singapore, Hong Kong and Malaysia
HONG KONG/SINGAPORE (Reuters) -Hillhouse and Japan's Mitsui & Co have emerged as final bidders vying for Singapore-headquartered traditional Chinese medicine chain Eu Yan Sang International, in a deal that could fetch over $700 million, two people with knowledge of the matter said. Eu Yan Sang's shareholders, led by Singapore-based asset manager Tower Capital Asia, will conduct management presentations with the bidders next week, said one of the sources. A third bidder is also in the mix to buy Eu Yan Sang, according to one of the sources and a third person familiar with the transaction, but Reuters could not verify the identity.
Managing director Ng Seow Ling was at the peak of her corporate career before deciding to pursue a new profession as a TCM physician. How did she do it?