L’Oreal in talks to purchase Migros’ South Korean beauty unit, Reuters stories

Investing.com — French cosmetics large L’Oreal SA (EPA:OREP) is shut to accumulate Gowoonsesang Beauty, the South Korean skincare enterprise owned by Mibelle Group, Reuters reported citing folks with information of the deal.

An announcement could possibly be made as quickly as on Monday, the Reuters report added.

Each L’Oreal and Migros didn’t instantly reply to Investing.com request for a remark.

Mibelle, a unit of Swiss retailer Migros, acquired its stake in South Korean Gowoonsesang Cosmetics, which sells skincare merchandise underneath the Dr.G model, in 2018.

Earlier this yr, Migros engaged in a strategic assessment for Mibelle Group to discover a new proprietor for the enterprise.