South Korean beauty brand Skinfood up for sale through open tender

South Korean beauty brand Skinfood up for sale through open tender

South Korean beauty brand Skinfood has announced it is being put up for sale through auction, according to a report by Pulse News.

The company is working with sales advisor Ernst & Young Han Young and is inviting letters of intent until 14 March. Skinfood last month appointed Kim Chang-gwon, former CEO of Hankuk Paper Manufacturing Co. as its legal administrator to oversee the sale.

Interested parties will be able to conduct a due diligence between 18 March to 5 April, with the successful bidder being chosen by early May at the latest. The winning buyer will acquire new company shares and bonds.

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