L’Oreal SA Nears Acquisition of Gowoonsesang Cosmetic

Investing.com — French cosmetics giant L’Oreal SA (EPA:OREP) is close to acquiring Gowoonsesang Cosmetic, the South Korean skincare business owned by Mibelle Group, according to Reuters, which cited sources familiar with the deal.

An announcement could be made as soon as Monday, the report added.

Both L'Oreal and Migros did not immediately respond to Investing.com’s request for comment.

Mibelle, a unit of Swiss retailer Migros, acquired its stake in the South Korean Gowoonsesang Cosmetics, known for its Dr.G skincare products, in 2018.

Earlier this year, Migros began a strategic review for Mibelle Group to find a new owner for the business.