'Blackstone, Bain to bid for Mitsubishi Pharma unit in up to $3.5 billion deal'

HONG KONG: Global private equity firms Blackstone and Bain Capital are among final bidders for Mitsubishi Tanabe Pharma, a unit of Japan's Mitsubishi Chemical Group, in a deal that could value it at between $3 billion and $3.5 billion, three sources said.

Mitsubishi Chemical has hired Goldman Sachs to run the sale process and binding bids are due on Dec. 24, the sources said.

Local private equity firm Japan Industrial Partners (JIP) is also bidding for the company, said the sources, who all declined to be named as the information was confidential.


Blackstone, Bain Capital, Goldman Sachs and Mitsubishi Chemical declined to comment. Tanabe referred Reuters request for comment to its parent company.