Dow Jones Newswires: Olympus to sell biological microscopes unit to Bain Capital for $3.11 billion

by | Aug 29, 2022 | Stock Market

Bain Capital LLC will acquire Olympus Corp.’s life-science and industrial applications unit for 427.6 billion yen ($3.11 billion). The Japanese company
7733,
-3.87%
expects to complete the transfer of shares of Evident Co. on Jan. 4, it said Monday.

“In light of this favorable market environment, Olympus concluded that it would be in its best interest to transfer all shares of Evident to Bain Capital in order to allow Evident to develop its business with more agile and flexible decision-making based on market needs,” Olympus said. The company expects to recognize a divestment gain in the four quarter of this fiscal year. Olympus’s fiscal year runs from April to March. Evident develops, manufactures and sells solutions for biological microscopes, industrial microscopes, industrial videoscopes and fiberscopes, non-destructive testing equipment, and X-ray analyzers. Write to P.R. Venkat at venkat.pr@wsj.com

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