m3n4.net
m3n4.net December 19, 2018


Unilever's new $2.6bn Korea move with Carver acquisition

27 September 2017, 12:18 | Vera Richards

The growing trend of K-beauty Korean women hold the record for most cosmetic products used in a day- Source PA Images

The growing trend of K-beauty Korean women hold the record for most cosmetic products used in a day- Source PA Images

Unilever said on Monday that it has agreed to buy South Korean cosmetics firm Carver Korea for 2.27 billion euros ($2.71 billion) from Bain Capital Private Equity and Goldman Sachs.

Unilever (LON:ULVR) has inked a deal to buy skincare business Carver Korea, the Anglo-Dutch company has said.

The range of products now includes its hero line "Eye Cream for Face", along with essences, toners, moisturisers, masks and sun protection. The group's shares have added more than 17 percent to their value over the past year, and are up by just under 30 percent in the year-to-date.

Trump gives 'final warning' on North Korea trade. What comes next?
On Thursday, Mr Trump signed an executive order to introduce new sanctions against North Korea over its nuclear weapons programme. The order was created to dissuade Pyongyang from pursuing its nuclear missile program.

Bain and Goldman Sachs jointly bought about 60 percent of Carver for roughly $500 million previous year, a source familiar with the matter said on Monday.

Some argue that a company like Carver is safe from a backlash thanks to the popularity of its products in China, while others take the view that there is a serious threat and that South East Asia is a better bet for expansion. "It will significantly strengthen our position in North Asia, the largest skincare market in the world".

Unilever paid €2.27bn for its stake in Carver, a fast-growing skincare business which reported a threefold increase in revenues a year ago to €321m.

China's August trade with North Korea surges after United Nations sanctions
The president expanded sanctions this week, seeking to force global banks to cease all significant interaction with North Korea. General Assembly what the countermeasure would be, said his country may test a hydrogen bomb in the Pacific Ocean.

Bain and Goldman purchased a 60 percent share in Carver for 430 billion won in June previous year. The brand will also complement Unilever's existing portfolio, enabling it to provide consumers with luxury skincare products at affordable prices.

Investment banks (IB) explained that Unilever's acquisition of the AHC line for 16 times its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of Euro 137 million can be interpreted as a plan for the second takeoff in the Chinese market which is now suffering stagnation. In 2015, Carver posted total sales of about $130 million.

South Korean cosmetics companies had robust growth in past years, helped by strong Chinese demand, which has weakened recently amid geopolitical disputes in the region.

Primavera Sound condemns arrests of Catalan leaders
The Catalan parliament, where Puigdemont's coalition has a majority, has been taking legislative steps towards independence for more than a year.



Other News

Trending Now

Oil Price Rises To $57 …As OPEC Plans Output Cuts
The U.S. government on Wednesday announced a build of 4.6 million barrels for the week ended September 15. Russian Federation says no decision about the oil deal extension is expected before January.

Facebook Gave Mueller Copies, Records Of Russian Firm's Ad Buy
Mueller got the records after obtaining a search warrant for information on the fake accounts that Facebook said it shut down. The fact that Mueller obtained a warrant means he's already made a strong case for Russia's meddling with the election.

Kenyan top court finds electoral body complicit in poor conduct of polls
Maraga said the opposition had failed to show evidence Kenyatta had campaigned using state resources or undue influence. OT-Morpho said it had conducted two separate independent audits that verified there was no infiltration or piracy.

The 69th Annual Primetime Emmy Award Winners
Colbert dragged President Donald Trump throughout most of his opening monologue, but this moment literally made jaws drop. The thriller based on an 80's novel snagged five awards, including one for Elizabeth Moss for outstanding lead actress.

Protesters severely beaten by police as BHU student anger intensifies
The DM has ordered for closing of all the universities, including the higher educational institutions, in the city on Monday. The warden's response angered the student's colleagues, who sat on a " dharna " at the main gate on Thursday night.

Sensex, Nifty little changed; Reliance Industries hits record high
In terms of the broader markets, the S&P BSE mid-cap index was lower by 0.07 per cent and the small-cap index by 0.14 per cent. ICICI Bank fell as much as 1.2 percent and Bharat Petroleum declined up to 2.8 percent after two straight sessions of gain.

Tributes paid to Harry Dean Stanton
Entertainment Weekly revealed that Stanton never got married, but in a 2006 interview , he was asked if he had children. Actor Harry Dean Stanton , best known for his roles in " Twin Peaks ", " Big Love ", and " Pretty in Pink ", has died.

Rohingya Flee Myanmar Violence at Mercy of Traffickers, Warns UN
According to the Commission, from the human rights angle its "intervention is appropriate" in the matter. Van Thio did not use the term Rohingya, referring to them simply as Muslims.

United Nations Security Council condemns highly provocative North Korea missile launch
President Trump said Friday that he is confident the United States' options toward North Korea are "effective and overwhelming". Though they were not their top choices for the region, Haley and McMaster said, they were available to the President.

I do not fear global scrutiny - Aung San Suu Kyi
The leader said she nevertheless wanted the worldwide community to know what was being done by her government. Many reported that their villages had been burned down and that those who stayed were killed.