J&J to Acquire Japanese Cosmetics Maker Ci:z Holdings
Tokyo, Oct. 23 (Jiji Press)--U.S. pharmaceutical and health products giant Johnson & Johnson said Tuesday it will acquire Japanese cosmetics maker Ci:z Holdings Co. <4924> partly through a tender offer for some 230 billion yen.
The Tokyo-based company is known for its Dr.Ci:Labo brand cosmetics products, which are increasingly popular in China.
The two companies will jointly develop products and operate sales promotion activities, in order to accelerate business expansion worldwide.
In the tender offer, to be in place from Monday to Jan. 10, 2019, J&J will buy Ci:z Holdings shares at 5,900 yen apiece, 55.3 pct higher than Tuesday's closing price of the stock of the Japanese company on the first section of the Tokyo Stock Exchange.
J&J will also purchase Ci:z Holdings shares owned by Yoshinori Shirono, chairman of the firm, aiming to make it a fully owned unit. Shirono is the founder of the Ci:z Holdings group.
[Copyright The Jiji Press, Ltd.]