By Tatiana Bautzer
SAO PAULO, May 16 (Reuters) - Japan's Takeda PharmaceuticalCo expects to receive binding offers for its LatinAmerican business by the end of May, three sources withknowledge of the matter said.
Brazilian pharmaceutical group EMS is considered thefront-runner in the process, but Blackstone-backed Brazilianinvestment firm Patria Investments may also deliver a bid,sources added asking for anonymity as discussions are stillprivate.
Private equity firms such as Advent International Corp andCVC Capital Partners, and strategic bidders such as Brazilianpharmaceutical company Eurofarma, have analyzed the asset, butare not expected to deliver binding offers to the investmentbanking unit of Bank of America, which is Takeda'sadvisor.
EMS, Patria, Advent, CVC and Bank of America declined tocomment. Takeda did not immediately comment.
Latin America represents around 4% of Takeda's revenue. Thecompany sells in the region vaccines, oncology, gastroenterologyand over-the-counter products. Takeda expects the business tofetch around $1 billion, the sources added.
A fourth source with knowledge of the matter said EMS isvery interested in the Latin American operations after havingacquired last year from Takeda its Brazil's Multilab unit,located in the southern region of the country.
Patria, in which Blackstone Group LP has a 40 percentstake, owns in Brazil Natulab, a pharmaceutical companyspecialized in over-the-counter drugs and vitamins.
Takeda Pharmaceutical has been selling assets after the $59billion purchase of Shire Plc and targets $10 billion indivestments to cut its debt. The company predicted this week aloss due to costs associated with the acquisition.
Earlier this month, Takeda agreed to sell its dry eye drugXiidra to Swiss drugmaker Novartis for up to $5.3billion, and TachoSil, a surgical patch for bleeding control, toJohnson & Johnson's for $400 million.
(Reporting by Tatiana BautzerEditing by Nick Zieminski)
