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

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 materialsbusiness.

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.