Apollo affiliates to buy a Mitsubishi Chemical unit for $759 mln (updated)

Mitsubishi Chemical

30/09/2021 08:31

(Adds deal value)
    Sept 30 (Reuters) - U.S. private equity firm Apollo Global
Management  APO.N  said funds managed by its affiliates will buy
Mitsubishi Chemical's  4188.T  thermal and emission control
protection materials business.
    The deal, which is expected to close by March 2022, marks
Apollo's second private equity fund investment in Japan, it said
in a statement.
    Mitsubishi Chemical said in a separate statement that the
transfer price is 85 billion yen ($759 million). 
    The Japanese chemicals producer expects a profit of
approximately 54 billion yen from the deal.
    ($1 = 112 yen)

 (Reporting by Kanishka Singh in Bengaluru; editing by Himani
Sarkar and Jason Neely)
 ((Kanishka.Singh@thomsonreuters.com; +91 8061822801;))