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Magic Holdings faces takeover bid from France's L'Oreal Group

By Wang Ying in Shanghai | China Daily | Updated: 2013-08-17 08:28

Magic Holdings faces takeover bid from France's L'Oreal Group

L'Oreal Group, the world's largest cosmetics and beauty company by sales, said its takeover of Magic is awaiting approval from China's Ministry of Commerce. Geng Guoqing / for China Daily

France's L'Oreal Group is offering to take over China's leading facial mask brand for HK$6.30 (81 US cents) per share, L'Oreal and target Magic Holdings International Ltd said in a joint announcement on Thursday.

Magic Holdings faces takeover bid from France's L'Oreal Group

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