Bain to Acquire Mitsubishi Tanabe Pharma in $3.3 Billion Deal

Private equity firm Bain Capital agreed to acquire Mitsubishi Chemical Group Corp.’s pharmaceutical unit, adding to a dealmaking boom in Japan.

The deal values Mitsubishi Tanabe Pharma Corp. at about ¥510 billion ($3.3 billion), according to a statement on Friday, which confirmed an earlier report from Bloomberg News. The transaction is expected to be completed in the third quarter, pending closing conditions and approvals from regulators and shareholders.

In a separate statement, Mitsubishi Chemical said it expects to book pre-tax income from discontinued operations of about ¥95 billion.

Founded in 1678 and based in Doshomachi, Osaka, Tanabe Pharma focuses ...