Lion Corp. will acquire a 36% stake in Vietnamese pharma firm Merap Group as the Japanese consumer goods company expands its presence in Asia.
The acquisition decision was made on Monday, Lion announced from Japan, where it is listed as 4912 on the Tokyo Stock Exchange. The total number of acquired shares is 8,064,000.
The deal will make Merap an equity-method affiliate of Lion, a move the Japanese firm expects to fuel its Asian expansion efforts. Lion said it expected the share purchase to be completed in early March.
The two parties have agreed not to disclose the transaction price.
Lion already exports some products to the Vietnamese market mainly via its overseas affiliates the firm did not name, and is seeking to leverage Merap's distribution network.
Merap possesses brands in healthcare, mainly in over-the-counter pharmaceuticals, a distribution network and sales capabilities covering hospitals, clinics, and pharmacies across Vietnam.
It was established in June 2019 with VND224 billion in charter capital, equal to around $95.57 million based on current forex rates.