A special purpose entity will buy around 86 per cent of the TCM maker from Righteous Crane Holding.
Eu Yan Sang, founded in 1879, now operates over 170 retail outlets in China, Hong Kong, Macau, Malaysia and Singapore.
Japanese trading house Mitsui & Co announced on April 4 that a special purpose entity it has set up with Rohto Pharmaceutical will buy around 86 per cent of Eu Yan Sang from Righteous Crane Holding. Once the deal is completed, a bid will be made to acquire the remaining 14 per cent of Eu Yan Sang, said Mitsui, which added that the Eu family will reinvest partially in the Mitsui-Rohto special purpose company.
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