April 4, 2019 / 3:15 PM / 8 months ago

Japan's Takeda invites Brazilian pharmaceutical firms to bid for Latam business: sources

FILE PHOTO: Takeda Pharmaceutical Co's logo is seen at its new headquarters in Tokyo, Japan, July 2, 2018. REUTERS/Kim Kyung-Hoon/File Photo

SAO PAULO/FRANKFURT (Reuters) - Japan’s Takeda Pharmaceutical Co Ltd has invited Brazilian pharmaceutical companies and financial investors to bid for its business in Latin America, three people with knowledge of the matter said.

The investment banking unit of Bank of America Corp is managing the sale and has invited Brazilian pharmaceutical companies Ache Laboratorios Farmaceuticos SA, EMS Pharma, Biolab Farmaceutica SA and Eurofarma Laboratorios SA to bid for the local unit, the sources added, asking for anonymity in discussing private talks.

Financial investors such as private equity firm Advent International Corp have also been invited to participate, one of the sources added.

Advent and Bank of America did not immediately comment on the matter. Biolab, Ache, Eurofarma and EMS declined to comment.

The bid format is not yet defined, as some of the strategic bidders may be interested only in Brazilian operations and others may bid for the whole regional business.

Takeda expects to fetch more than $1 billion for the Latin American operations. In Brazil, Takeda owns popular over the counter drug brands.

Brazilian newspaper Valor Economico reported some of the names of the interested parties on Thursday.

Reporting by Tatiana Bautzer; Editing by Susan Thomas and Chris Reese

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