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2014-01-15 21:08:32

L'Oréal deal for Magic Holdings is approved

2014-01-15 21:08:32

The Ministry of Commerce of the People’s Republic of China (MOFCOM) has given the green light to the proposed acquisition of Magic Holdings by L’Oréal.

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L’Oréal and Magic expect the transaction to close during the second quarter of 2014.

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A specialist in cosmetics facial masks, Magic Holding's turnover in fiscal year 2012-2013 was approximately €160 million euros. Magic’s MG brand is one of China’s leading brands in the mask category.

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L'Oréal deal for Magic Holdings is approved

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