THE WHAT? Amorepacific has announced it is to sell a 60 percent stake in its packaging making affiliate Pacific Package to Autajon Group, according to Korea Times.
THE DETAILS The value of the sale to the French package maker hasn’t been disclosed, with Amorepacific retaining a 40 percent stake.
THE WHY? The deal is said to be part of Amorepacific’s plan to strengthen its link with Autajon Group.
Amorepacific said, “The deal will elevate our partnership with Autajon Group and provide new growth momentum for our affiliate, as we expect to find additional clients through our French partner.”