Eu Yan Sang Founding Family To Sell Their Chinese Medicine Business?
The family is reportedly in talks with several Singaporean companies to dispose of their stake in the company.
Subscribe to our FREE Newsletter or Telegram channel for the latest stories and updates.
Local traditional Chinese medicine company, Eu Yan Sang is supposedly in the midst of selling their business. According to Bloomberg, citing a source, the family-run business intends to sell its stakes in Eu Yan Sang International Limited.
Bloomberg indicated that the founding family has been in discussions with Singapore-based private equity firm Tower Capital Asia and Temasek Holdings Pte’s unit Blanca Investments.
The discussions reportedly have been on the family members disposing of the majority of their stakes in the company. The family members have also been in discussions with financial advisers about their next move.
However, the negotiations are said to still be in the early stages. In fact, there might be a possibility of the family retaining their business.
But as of now, no parties involved have confirmed or spoken about the move.
About Eu Yan Sang
Since its foundation in 1879, Eu Yan Sang has specialised in producing traditional Chinese medicines. The family business has indeed been providing healthcare remedies to people all across China, Hong Kong, Macau, Malaysia, and Singapore.
Aside from healthcare remedies, Eu Yan Sang has also branched out to healthcare services over the years.
In addition to having 170 branches, the company also has 25 clinics with specialises in Chinese medicine and 3 medical centres. Therefore, making the company’s net worth over $800 million (RM 3.7 billion).
Share your thoughts with us via TRP’s Facebook, Twitter, Instagram, or Threads.
