L'Oréal's Reported $375-million South Korean Cosmetics Deal

The French beauty giant is the preferred bidder for share of Nanda, says Reuters.


According to Reuters, L’Oréal, the world’s largest beauty company, has set its sights on South Korea. The French cosmetics group has reportedly been picked as the preferred bidder to purchase 70% of South Korean fashion and cosmetics firm Nanda, in a deal estimated at 400 billion won ($375 million). The news was reported by Korea Economic Daily, which cited investment banking sources.
Reuters says the deal “would make L’Oréal the latest foreign investor to bet on continued demand for Korean beauty products in Asian markets such as China, backed by the popularity of Korean pop culture.”
According to the report, the parties involved were not available for comment.

Comments are closed, but trackbacks and pingbacks are open.