Japanese cosmetics firm Shiseido Co Ltd said on Friday it was in talks to sell its lower-priced skincare and shampoo brands to private equity firm CVC Capital Partners in a deal reported to be valued at more than $1.45 billion.
Shiseido, whose shares ended the day up 4.4%, said it was negotiating a sale of its personal care business in the first half of the year to CVC but said no decision had been taken.
The business includes its Tsubaki shampoo and Sea Breeze deodorant brands which are sold at drugstores and convenience stores in Asia.
A CVC representative declined to comment.
Bloomberg News, which first reported the talks, said the deal was likely to be worth 150 billion-200 billion yen ($1.45 billion-$1.93 billion).
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.