Shiseido plans sale of consumer product lines for over $1.45 billion - report
Lipsticks are displayed at a shop of Shiseido Co in Tokyo, Japan, March 7, 2016 - REUTERS Pic
TOKYO:Japanese cosmetics firm Shiseido Co Ltd is in talks to sell its shampoo and lower-priced skincare lines to private equity firm CVC Capital Partners for 150 billion to 200 billion yen ($1.45 billion-$1.93 billion), Bloomberg reported on Friday.
The reported talks to sell its consumer product lines, including its Tsubaki haircare brand, come as Shiseido has been eyeing possible asset sales to focus on premium cosmetic brands such as NARS and Cle de Peau.
Global private equity firms such as CVC and Carlyle Group have been expanding in Japan in recent years as large Japanese companies have shown more interest in selling non-core assets.
A CVC Capital representative declined to comment, while Shiseido officials were not immediately available for comment.
Shiseido shares were up 5% in morning trade on the Tokyo Stock Exchange.
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