Investing.com — French cosmetics giant L’Oreal SA (EPA:OREP) is close to acquire Gowoonsesang Cosmetic, the South Korean skincare business owned by Mibelle Group, Reuters reported citing people with knowledge of the deal.
An announcement could be made as soon as on Monday, the Reuters report added.
Both L’Oreal and Migros did not immediately respond to Investing.com request for a comment.
Mibelle, a unit of Swiss retailer Migros, acquired its stake in South Korean Gowoonsesang Cosmetics, which sells skin care products under the Dr.G brand, in 2018.
Earlier this year, Migros engaged in a strategic review for Mibelle Group to find a new owner for the business.
