Mitsui to take 20% stake in Quintiles' Japanese subsidiary

Japanese trading company Mitsui expects to become a 20% shareholder in Quintiles Transnational Japan KK in a transaction designed to accelerate the latter's growth and expand both firms' strategic alliance capabilities in pharmaceuticals, biotechnology and health care.

Mitsui is expected to acquire the 20% interest in Quintiles Japan by purchasing newly-issued common and preferred shares from the latter, as well as from parent Quintiles Transnational which, along with Quintiles Japan, is expected to receive a total of approximately 8.7 billion yen ($80 million) in the transaction. Quintiles will also have the right to receive up to an additional 2.0 billion yen based on Quintiles Japan's future financial performance.