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Private equity giant Blackstone Inc. (NYSE:BX) is reportedly close to finalizing a deal to sell Alinamin Pharmaceutical, a Japanese supplement maker, to North Asian buyout fund MBK Partners for 350 billion yen ($2.17 billion).
The agreement is anticipated to be finalized shortly, reported Reuters, citing a person familiar with the matter.
Also Read: Private Equity Giant Blackstone Targets Japanese Market, Anticipates ‘Accelerated Growth’: Report
According to the Nikkei, MBK plans to leverage its expertise in consumer goods acquisitions to enhance Alinamin’s value. Following the Blackstone deal, the company established a unit in Taiwan and expanded its international sales efforts.
Last month, Blackstone stated it is collaborating with financial advisers on a potential sale of Tokyo-based Alinamin, which could be valued at roughly ¥300 billion ($1.9 billion).
Notably, Blackstone acquired Alinamin from Takeda Pharmaceutical Company (NYSE:TAK) in 2020.
Recently, the company reportedly agreed to purchase a 55.1% stake in Japanese e-comics provider Infocom Corp. for about ¥260 billion ($1.66 billion).
Blackstone stock has gained more than 29% in the last 12 months. Investors can gain exposure to the stock via Invesco Global Listed Private Equity ETF (NYSE:PSP) and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO).
Price Action: BX shares are down 0.60% at $121.50 premarket at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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