Unilever to buy Korean cosmetics firm for $2.7b

Posted September 27, 2017

The deal to buy the 60.39 percent stake is aimed at helping Unilever make headway in China, the report said, citing unidentified investment banking sources.

"Bain and Goldman Sachs jointly bought about 60% of Carver for roughly $500 million a year ago", a source tells Reuters's Hyunjoo Jin and Martinne Geller. The company's origins are as a professional products supplier for beauty salons.

At the time, a person familiar with the matter said the deal was worth more than 350 billion won ($310 million).

BHU violence: leaders question BJP govt targeting universities
It is very bad on the side of police to have a lathi charge on the female students who were protesting on the eve teasing issue. This type casting is a logical outcome of the penetration of Hindutva supporters in institutions of higher education.

"We are delighted to be acquiring Carver Korea".

Political tensions between Korea and China, however, have had an adverse effect on some Korean brands - retailer Lotte, for example, has announced it will sell a number of its Chinese stores with the possibility of withdrawing from the country completely - and analysts appear divided on how this will play out in the beauty sector. This is reflective of a "recalibration" of advertising spend in the overall market, strong savings delivery from its zero-based budgeting programme, as well as innovation and support plans weighted towards the second half of 2017, particularly in personal care.

Carver's leading brand, AHC, is focused on age management and skin hydration and nourishment, with a line of products that includes essences, toners, moisturizers, masks and sun protection products.

Trump is driving Pakistan into China's arms
The Afghan president also said be believes Trump's strategy has a better chance of success than Obama's. Trump also spoke highly of his Afghan counterpart.

"It will significantly strengthen our position in North Asia, the largest skincare market in the world; and will complement our existing portfolio, enabling us to offer luxury skincare products at attainable price points", Alan Jope, Unilever President Personal Care, said in a statement.

"Unilever said that Carver's 2016 sales were 321 million euros ($381 million) with core profit of 137 million euros". "The value of South Korea's beauty market will reach about $13 billion this year, according to market researcher Mintel". South Korea is also the world's fourth-largest market for skin care.

Kenya's supreme court says the presidential election was "infiltrated and compromised"
Also on Tuesday, police also used tear gas to disperse supporters of the ruling party protesting outside the Supreme Court. Kenyatta says his criticism of the Chief Justice should not be viewed as an attack on Maraga's Kisii community .