Deals
Bain Reaches Deal to Buy DSM Sinochem Pharma Joint Venture
- DSP venture was said to have been worth $698 million in sale
- Singapore business was set up by Royal DSM, China’s Sinochem
Source: IPGGutenbergUKLtd/iStockphoto via Getty Images
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Buyout firm Bain Capital has reached an agreement to buy pharmaceutical joint-venture of Dutch chemicals firm Royal DSM NV and China’s Sinochem Group.
The purchase of the closely held business, known as DSM Sinochem Pharmaceuticals or DSP, is expected to close in the fourth quarter, Bain said in a statement Friday that didn’t disclose terms of the deal. DSP was expected to fetch about 600 million euros ($698 million), including payments conditional on the future performance of the business, said a person familiar with the matter who asked not to be identified because the matter was private.