Breaking News

Kao Gets Green Light

February 14, 2006

Kao Gets Green Light
To Buy Kanebo
l JAPAN: Kao has received the go-ahead to buy Kanebo and Kanebo Cosmetics, Japan’s second biggest cosmetics business after Shiseido, in a stock deal valued at $2.27 billion from the Industrial Revitalization Corp. of Japan. Kao partnered with three investment funds on the deal, and in addition to stock acquisitions, plans to acquire all the patent, trademark, utility model and design rights held by Kanebo Cosmetics for $1.28 billion.

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