Shiseido to sell personal care business to fund CVC for 160 bil. yen

Economy

Shiseido Co. said Wednesday it has agreed to sell its personal care products business to European private equity fund CVC Capital Partners for 160 billion yen ($1.5 billion) to focus on the Japanese firm's core cosmetics business. The business, which has well-known product brands such as Tsubaki, will be transferred on July 1 to a company to be set up by the CVC fund in the first half of this year, Shiseido said. The beauty giant said it will then acquire a 35 percent stake in the new company and continue to engage in the business, which made up about 10 percent of its total sales in the busin...

Kyodo News

Kyodo News