Shiseido in talks to sell consumer product lines, deal reported at over $1.45 billion

23-Jan-2021 Intellasia | Reuters | 6:02 AM Print This Post

Japanese cosmetics firm Shiseido Co Ltd said on Friday it was in talks to sell its shampoo and lower-priced skincare lines to private equity firm CVC Capital Partners, with a report putting the deal value at 150 billion to 200 billion yen ($1.45 billion-$1.93 billion).

Shiseido said it was in talks to sell the consumer product business in the first half of the year to CVC but that nothing had been decided. The business includes its Tsubaki shampoo and daily skincare products.

Bloomberg News first reported the talks, which come as Shiseido has been eyeing possible asset sales to focus on premium cosmetics, including its namesake line and brands such as Cle de Peau and NARS.

Global private equity firms such as CVC and Carlyle Group have been expanding in Japan in recent years, taking advantage of large Japanese companies coming under increasing pressure to sell non-core assets and improve returns to shareholders.

Shiseido shares were up 5 percent in morning trade on the Tokyo Stock Exchange.

($1 = 103.5200 yen)

https://www.reuters.com/article/us-shiseido-deal/shiseido-in-talks-to-sell-consumer-product-lines-deal-reported-at-over-1-45 billion-idUSKBN29R01O

 

Category: Japan

Print This Post

Leave a Reply

You must be logged in to post a comment.