Takeda Nears Russia, Mideast Asset Sale to Private Equity

(Bloomberg) -- Takeda Pharmaceutical Co. is nearing the sale of a portfolio of assets in the Middle East, Africa and Russia to separate buyout firms that could help the drugmaker raise about $1 billion to reduce debt, according to people familiar with the matter.

The Japanese company is in advanced talks to sell over-the-counter and prescription-drug assets in Russia to Stada Arzneimittel AG, the German pharmaceutical firm owned by Cinven and Bain Capital, the people said, asking not to be identified because the deliberations are private.

It’s also close to reaching an agreement to sell its assets in the Middle East and Africa to Acino International AG, a Swiss company owned by Nordic Capital and Avista Capital Partners, they said.

No final decision has been made and talks could still fall apart or face delays, the people said. Representatives for Takeda, Stada, Cinven, Bain, Nordic Capital and Avista declined to comment.

Shares of Takeda rose 0.9% to close at 3,720 yen Friday in Tokyo.

Takeda is also seeking to sell other over-the-counter and prescription-drug businesses in Latin America, Asia and western Europe, Bloomberg News reported last month.

The drugmaker is aiming to raise about $10 billion of disposals, simplifying its portfolio and cutting debt after its $62 billion takeover of Shire Plc. The company is looking to divest non-core businesses outside Japan where the company isn’t an industry leader and doesn’t have critical mass in the market.

In May, Takeda agreed to sell eye-disease medicines to Novartis AG for as much as $5.3 billion.

--With assistance from Michael Hytha.

To contact the reporters on this story: Manuel Baigorri in Hong Kong at mbaigorri@bloomberg.net;Sarah Syed in London at ssyed35@bloomberg.net

To contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, ;Dinesh Nair at dnair5@bloomberg.net, Amy Thomson, Aaron Kirchfeld

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