Article: Chinese Firm Eyes Purchase of Japan Cosmetics Company's Drug Business.

Kyodo News International, Tokyo Knight Ridder/Tribune Business News

Apr. 2--TOKYO -- Chinese drugmaker Sanjiu Enterprise Group has informed the Industrial Revitalization Corp. of Japan (IRCJ) of its intention to buy the pharmaceutical business of troubled cosmetics maker Kanebo Ltd., an official of the Chinese firm's Japan unit said Friday.

Sanjiu plans to carry out the purchase through the Japanese subsidiary after Kanebo and the IRCJ finalize a restructuring package in mid-May, opening the door for any deals with outsiders, the official said.

The IRCJ approved last month a 366 billion yen aid package for Kanebo after Kanebo asked for ...

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