Bain Capital to Buy Mitsubishi Chemical’s Pharma Business for More Than $3 Billion

Bain Capital has agreed to acquire Mitsubishi Chemical Group’s 4188 -4.18%decrease; red down pointing triangle pharmaceutical business for more than $3 billion, a deal that would allow the Japanese company to focus on its key chemical businesses.

The U.S. investment company said Friday that it will buy Mitsubishi Tanabe Pharma for about 510 billion yen, equivalent to $3.37 billion.