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Oriflame Narrows Bidders for Sale of Company

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By: TOM BRANNA

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At least four private equity firms including the UK’s Permira have entered the second round in the 1 billion euros ($1.25 billion) plus sale of Swedish direct-sales cosmetics firm Oriflame, sources close to the matter said on Tuesday.

A consortium of Texas Pacific Group and Advent International has also been selected, along with Nordic private equity company EQT. At least one company in the sector has also been short-listed, the sources said, although they declined to name the buyer. Press reports have named Procter & Gamble, Germany’s Beiersdorf AG and the Japanese Kao group as potential bidders.

Oriflame’s Anglo-Swedish private equity owner, Industri Kapital, in September tapped investment banks Merrill Lynch and Carnegie to lead an initial public offering in Stockholm in 2004. Executives are aiming to conclude the sale some time in the spring, according to sources.

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