Breaking News

L’Oréal Gets Green Light On Magic Holdings

February 7, 2014

CHINA: 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.

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