A shop assistant arranges jars containing roots and herbs at a Chinese medicine shop in Singapore February 17, 2009. ― Reuters file picSINGAPORE, April 5 ― Japan's Mitsui & Co said yesterday it had teamed up with Rohto Pharmaceutical Co, to buy Eu Yan Sang International in a deal valuing the Singapore-based traditional Chinese medicines firm at S$800 million .
Righteous Crane Holding is owned by a fund managed by Tower Capital Asia, a unit of Temasek Holdings and founding family members of Eu Yan Sang, according to a separate statement issued by Tower Capital Asia yesterday.Following the deal, a takeover bid for the remaining 14 per cent of Eu Yan Sang will be made, while the founding family of Eu Yan Sang will reinvest partially into the Misui-Rohto special purpose company, Mitsui added.
Founded in 1879, Eu Yan Sang operates over 170 retail outlets and 30 clinics in Singapore, Hong Kong, and Malaysia, according to Mitsui's statement.Righteous Crane Holding took the company private from the Singapore bourse in 2016. The deal valued Eu Yan Sang at about US$196 million at the time.