Alliance Cosmetic Group, the Malaysian owner of the Silkygirl beauty care brand, has been put up for sale by its shareholders, people with knowledge of the matter said.
Alliance’s investors including Navis Capital Partners Ltd. and Ekuiti Nasional Bhd., a private-equity fund linked to Malaysia’s government, have hired Rothschild for the sale, according to the people. Alliance Cosmetic has drawn interest both from other
companies and from private-equity firms, said one of the people, who asked not to be identified as the process is confidential.
Ekuiti Nasional, known as Ekuinas, paid 39.9 million ringgit ($12.5 million) in 2010 for 20 percent of Alliance Cosmetic while Navis invested 119.6 million ringgit, according to Ekuinas’s website. Alliance Cosmetic Chief Executive Officer Tan Thiam Hock owns a minority stake.
Alliance Cosmetic sells Silkygirl make-up and distributes Revlon Inc. cosmetics at supermarkets and pharmacies in Malaysia, Singapore, Jakarta and Brunei, its website shows.
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