China Cuts Consumption Tax On Cosmetics To Stir Growth (2)
Henkel & Co KGaA AG and Coty Inc, both of which have personal care and cosmetics companies, made binding affords to purchase separate components of Procter & Gamble Co’s beauty companies price as much as a total of $12 billion, in line with folks familiar with the matter.
Henkel made a proposal for P&G’s haircare enterprise, which incorporates the Wella and Clairol brands, and will fetch a valuation of $5 billion to $7 billion, the people said. While Henkel is considered to be the almost definitely buyer, personal equity agency KKR & Co LP additionally submitted a bid for the haircare business, the people added.
In response to the research, the Federation of Cosmetics Makers (FEBEA) said magnificence and hygiene products sold in France had been safe and met European regulation, which it described as probably the most demanding on the planet. Many concerned within the cosmetics business often specialise …Read more →