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Business deals

Shiseido sheds bareMinerals in sell-off of US beauty brands

American private equity firm Advent to buy three prestige cosmetics labels for $700m

A Shiseido store in Tokyo's Ginza district: The Japanese health and beauty group has sold off a number of assets in recent months. (Photo by Yuki Masuda)

TOKYO -- Japanese health and beauty group Shiseido said Thursday it will sell three high-end U.S. cosmetics brands to American private equity firm Advent International for $700 million.

All assets belonging to the brands bareMinerals, Buxom and Laura Mercier will be transferred to Advent by the end of the year. This sale marks a major milestone in Shiseido's restructuring push to jettison acquired brands mired in the red and focus resources on the growing skin care business.

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