Fullerton Health Stake Sale Said to Value Firm Near $1 Billion

Singapore’s Fullerton Health Corp. has agreed to sell a majority stake to Far East Drug Co. in a deal that people familiar with the matter said values the company at close to $1 billion.

Far East Drug, which is also based in Singapore and runs pharmaceutical businesses in Southeast Asia, will overtake private equity firm RRJ Capital as Fullerton Health’s biggest shareholder after subscribing for new stock, the people said, asking not to be identified as the process was private.

Fullerton Health announced the agreement in a statement Tuesday, without providing financial details. It expects the transaction to be completed ...