Mitsui, Rohto to Buy Chinese Medicine Firm in S$800 Million Deal

Customers browse traditional Chinese herbal products inside a Eu Yan Sang store in Singapore.
Photographer: Munshi Ahmed/Bloomberg

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By Elffie Chew, Dong Cao, and Manuel Baigorri

April 4, 2024 at 10:35 AM UTC

This article is for subscribers only.

Mitsui & Co. and Rohto Pharmaceutical Co. agreed to buy Eu Yan Sang International Ltd., in a deal valuing the traditional Chinese medicine company at S$800 million ($594 million).

The Japanese companies will acquire an 86% stake in Eu Yan Sang and launch a takeover bid for the remaining 14%, Mitsui said in a statement on Thursday, confirming a Bloomberg News report last week. The acquisition is expected to close around the end of June.