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Affinity looks to sell the low-priced brand.
November 20, 2009
By: TOM BRANNA
Editor
LG Household & Healthcare Ltd., a leading player in Korean detergent and cosmetics market may be looking to expand its presence in cosmetics to compete with Amore. Affinity Equity Partners Ltd., Hong Kong-based buyout fund, is close to a sale of South Korean cosmetics company TheFaceShop, seeking to raise more than $400 million, according to a Bloomberg News report. Affinity, which owns 70% of the company, aims to sign an agreement to sell the stake as early as this month, the person sa...
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