Takeda Pharmaceutical Co Ltd will accept initial bids for its 70 percent stake in a chemicals company through Aug. 16, with potential suitors including CVC Capital Partners Ltd and Carlyle Group Ltd, sources told Reuters.
Takeda, Japan’s largest drugmaker by market value, aims to sell its holding in Wako Pure Chemicals Industries Ltd to streamline operations, four people familiar with the plan said, declining to be identified as the matter was private.
The winning bidder would likely buy out the remaining shareholders, taking the deal over 100 billion yen ($957.95 million), the people said.
The drugmaker is likely to receive an aggressive bid from Fujifilm Holdings Corp, which is seeking to expand its medical business and already owns 9.5 percent of Wako Pure, the people said.
Buyout firm Permira is also among companies set to bid, they said.
Takeda, Carlyle, CVC, Fujifilm and Permira declined to comment.
Takeda has invited a number of the global buyout firms to the bid for its stake in the Osaka-based maker of laboratory chemicals and clinical diagnostic reagents, which had sales of 75.7 billion yen last year, the people said.
A deal would follow the December sale of Takeda’s portfolio of respiratory drugs to Britain’s AstraZeneca PLC for $575 million. ($1 = 104.3900 yen)