TOKYO, July 2 (Reuters) - Private equity firm Blackstone

is nearing a deal to sell Japanese supplement maker

Alinamin Pharmaceutical to North Asian buyout fund MBK Partners

for 350 billion yen ($2.17 billion), a person with direct

knowledge of the matter said on Tuesday.

The deal is expected to be signed soon, said the person, who

declined to be identified as the information was private.

MBK, Blackstone and Alinamin declined to comment.

Blackstone had agreed in August 2020 to acquire Alinamin,

then a subsidiary of Takeda Pharmaceutical ( TAK ), according

to an announcement from the private equity firm at the time.

Nikkei first reported Blackstone's planned sale of Alinamin

earlier on Tuesday.

MBK aims to use its experience in consumer goods

acquisitions to boost Alinamin's value, the Nikkei reported.

Previously known as Takeda Consumer Healthcare Co, Alinamin

provides over-the-counter medicines in Japan.

After Blackstone's takeover, the company set up a unit in

Taiwan and increased its overseas sales, the Nikkei reported.

($1 = 161.5500 yen)