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Business deals

Shiseido to sell daily necessities unit as it hones cosmetics focus

Sale of shampoo and hair care brands to private equity fund carries $965m price

Shiseido aims to sell less-profitable businesses as more people stay at home due to the pandemic.   © Reuters

TOKYO -- Japanese cosmetics maker Shiseido plans to sell a portion of its business, including hair care products, to European private-equity fund CVC Capital Partners for possibly more than 100 billion yen ($965 million), Nikkei has learned.

The move comes amid slumping sales during the coronavirus pandemic as more people stay at home. Shiseido aims to sell less-profitable businesses to focus on its core cosmetics business.

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