Breaking News

L'Oréal Deal for Magic Holdings Moves Ahead

By Christine Esposito, Associate Editor | January 14, 2014

Transaction expected to close in Q2.

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