(Bloomberg) -- Blackstone Inc. is considering a sale of Japanese consumer health-care firm Alinamin Pharmaceutical Co., which used to be owned by Takeda Pharmaceutical Co., according to people familiar with the situation.

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Blackstone, the world’s biggest alternative asset manager, is working with financial advisers on a potential sale of Tokyo-based Alinamin, which could be valued at about ¥300 billion ($1.9 billion), the people said.

Alinamin is attracting interest from funds including CVC Capital Partners Plc, EQT AB and North Asian private equity firm MBK Partners, the people said, asking not to be identified discussing a private matter.

Other potential options include an initial public offering of the business, the people said. Considerations are ongoing and Blackstone may decide not to pursue a deal, they said.

Representatives for Blackstone declined to comment. CVC, EQT and MBK also declined to comment.

Read More: Blackstone Sees Japan, India Busiest for Asia Deals in 2024

Blackstone bought Alinamin from Takeda for ¥242 billion in 2021, as part of Takeda’s asset disposal program following its $62 billion acquisition of Shire Plc two years earlier, one of the biggest-ever deals in the pharmaceutical industry.

Alinamin traces its roots back to 1950, when it introduced Japan’s first multivitamin, Panvitan, and had a focus on helping people suffering from malnutrition due to postwar food shortages, according to its website. In addition to over-the-counter drugs, Alinamin’s products include tonic drinks, pain relievers, smoking cessation aids, laxatives and medicated bath salts.

Japan has been a busy market for dealmaking activity this year, with local companies pursuing acquisitions overseas and global investors seeking to deploy capital in the country. Semiconductor maker Renesas Electronics Corp. in February agreed to buy software firm Altium Ltd. for A$9.1 billion ($6 billion), the biggest acquisition yet of an Australian-listed company by a Japanese buyer.

Blackstone itself has been an active player. Bloomberg News reported last week that the firm has agreed to buy e-comics provider Infocom Corp., outbidding others including Sony Music Entertainment and KKR & Co.

--With assistance from Min Jeong Lee.

(Updates with background on Japan deals in eighth paragraph.)

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