Investindustrial drafts in Alibaba founder to join The Body Shop bid

Investindustrial drafts in Alibaba founder to join The Body Shop bid

Investindustrial has offered Alibaba Founder Jack Ma’s Blue Pool Capital an in on its bid for The Body Shop, according to a report published by Reuters.

The Hong Kong-based investment vehicle has been invited to team up with the European private equity firm and Brazilian GP Investments to make a bid of more than €800 million for the ethical cosmetics firm, according to Reuters sources.

The same source also revealed that Advent is not intending to pursue its initial bid further as the deadline for final offers approaches, leaving just CVC Capital and Investindustrial in the running for the L’Oréal-owned beauty brand. All declined to comment when approached by Reuters.    

 

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