South Korean sheet-mask manufacturer GDK Cosmetics is said to be in talks with private equity firm Quintessa to sell its majority stake in the firm for some KRW100 billion, according to a report published by The Korea Herald.

The stake in question is rumored to be in the region of 56 percent, which includes a 44 percent stake owned by GDK Cosmetics Founder Kim Sung-ho, and 12 percent currently owned by L&P Cosmetics.

“The largest stakeholder is currently negotiating the acquisition deal with Quintessa Investment,” a spokesperson for GDK Cosmetics told The Korea Herald’s Investor. Negotiations are expected to conclude ‘next month’.