Shiseido Co. is in advanced talks to sell its shampoo and affordable skincare business to CVC Capital Partners for ¥150 billion to ¥200 billion, as the cosmetics maker shifts its focus to premium beauty products, people with knowledge of the matter said.
The board of Shiseido is preparing to vote on the divestment soon, said the people, who asked not to be identified because the information isn’t public. The operation targeted for sale includes the company’s Tsubaki hair-care products and is mainly active in Japan, China and other parts of Asia.
Shiseido shares jumped as much as 6.5% in morning trading in Tokyo on Friday, the biggest intraday climb since November. The company confirmed it was in discussions with CVC Capital to sell the unit, and that "no formal decisions have been made as of yet.” An external representative for CVC declined to comment.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.