The offer of HK $6.30 per share for Hong Kong-listed Magic saw its share price a 24.8 per cent premium of its HK$5.05 closing price on Thursday, though its price did rise to as much as HK$6.10 following the news and prior to the suspension of trading on the company’s shares.
L’Oréal’s proposal is supported by Magic’s board, while six key shareholders, representing 62.3 per cent of the company’s equity, are also in support.
A specialist in cosmetic facial masks, Magic’s turnover in 2012 was approximately €150m.
Baring closed its Baring Asia Private Equity Fund V on $2.64bn in 2011, at the time the largest private equity fund
launched in Asia since the global financial crisis.
Copyright © 2013 AltAssets