for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Deals

Shiseido says to sell lower-priced brands for $1.5 billion

FILE PHOTO: Lipsticks are displayed at a shop of Shiseido Co in Tokyo, Japan, March 7, 2016. REUTERS/Toru Hanai

TOKYO (Reuters) - Japanese cosmetics firm Shiseido Co Ltd said on Wednesday that it agreed to sell its lower-priced skincare and shampoo brands to private equity firm CVC Capital Partners for 160 billion yen ($1.52 billion).

The brands includes its Tsubaki shampoo and Senka cosmetics line sold at drugstores and convenience stores.

Reporting by Ritsuko Ando and Chris Gallagher; Editing by Kim Coghill

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up